Static and Bank Bond Trusts
Some training providers use the Static Trust or Bank Bond Trust, where all student fees are covered by one trust. A lump sum or bank bond is held in trust to cover all expected student fees. Here's how it works:
- Your training provider will set up a trust to cover fees paid by all students.
- Your provider will ask you, during enrolment, to read and sign an acknowledgment form that details how your fees are protected.
- You pay your fees to your training provider.
- Public Trust will hold the lump sum or bank bond in trust. In case of course closure these would be used to refund fees (or a portion of the fees) to affected students.