Most training providers use a Standard Trust, where each student's fees are paid into an individual student trust account. Here's how it works for students enrolling in New Zealand.
- The provider will give you (as a part of your enrolment) an acknowledgement form that outlines the conditions of the trust account.
- You sign the acknowledgement form and the provider sends it to Public Trust.
- You deposit your fees into the Public Trust account, using a deposit slip or electronic transfer form given to you by the provider. Note that you can request a receipt through your provider.
- Public Trust establishes a Student Fee Trust Account in your name.
- Public Trust makes payments to your provider over the duration of your course, commencing on the first day of your course.
For international students the order will be different, as you will need to pay your fees before arriving in New Zealand and sign the acknowledgement form once you arrive.
- The provider establishes your student fee trust account with Public Trust as part of their enrolment process.
- You deposit your fees into the Public Trust account, by electronic transfer or Telegraph Transfer, using details given to you by the provider (including the Public Trust reference number).
- Your provider will provide you with the Public Trust receipt to use for your student Visa application.
- You then sign the acknowledgement form once you are in New Zealand and the provider sends it to Public Trust.
- Public Trust confirms the Student Fee Trust Account in your name and starts making payments to your provider over the duration of your course, commencing on the first day of your course.
You should know that. . .
- Public Trust has no responsibility for your fees until they are deposited into the Public Trust bank account and you have completed the necessary student fee trust account application form.
- To make sure your fees are protected from the start, you should deposit them yourself directly to Public Trust.
- If you don't deposit fees with Public Trust directly, you should get a receipt or formal confirmation from your provider to confirm that the fees have been deposited on your behalf.
- Each Student Fee Trust Account is established under a Trust Deed between Public Trust and your provider, which sets out the terms and conditions that apply to each Student Fee Trust Account, in addition to the current NZQA Student Fee Protection Rules.
To find out more, see Student fee protection on the New Zealand Qualifications Authority website.