Aussies applying for student banking services in the near future may welcome statements by an education expert warning that standards need to be maintained.
Peter Coaldrake, vice-chancellor of Queensland University of Technology and chairman of Universities Australia, said in a piece for the Australian that higher education is a "bedrock for economic development".
He backed government plans to educate 40 per cent of Aussies aged 25 to 34 to degree-level by 2025, saying it is important to aim "as high as realistically possible".
However, he warned that as numbers attending educational establishments improve – something that may lead to a surge in demand for student finances services – maintaining a high standard is vital.
"More students and new providers mean that quality assurance is essential and established universities have to be in the same tent," he stated.
Under a new government scheme, the authorities have set aside $1.2 billion to pay for 500,000 people to be educated in 2012, news that may be welcomed by prospective student banking customers.
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