Regulator function
The TPS functions are to:
- Support eligible international and domestic students whose education provider closes.
- Work with education and training providers to help them understand and meet their obligations to students.
- Maintain the following three funds as distinctly separate special purpose accounts under the Public, Governance, Performance and Accountability Act 2013 (PGPA Act):
- the Overseas Students Tuition Fund (OSTF)
- the Higher Education Tuition Protection Fund (HETPF)
- the VET Student Loans (VSL) Tuition Protection Fund (VSLTPF).
- Administer and collect the following four annual levies to support student placement fees, student refunds, student loan recredits and some TPS operational costs:
- International TPS Levy
- HELP TPS Lev
- Up-front Payments TPS Levy
- VSL TPS Levy.
- Make the legislative instruments for the annual levy settings under the ESOS Act, VSL Act, HESA Act and TEQSA Act.
