HomeSocioculturalEducationWhen the school... goes bankrupt

When the school... goes bankrupt


Ho Chi Minh City Department of Education and Training said that according to Apax Leaders, the amount of tuition this unit must refund to parents is 108,1 billion VND, of which 14,3 billion VND has been paid, and about 93,8 billion VND remains. billion VND - Photo: Trong Nhan

Ho Chi Minh City Department of Education and Training said that according to Apax Leaders, the amount of tuition this unit must refund to parents is 108,1 billion VND, of which 14,3 billion VND has been paid, and about 93,8 billion VND remains. billion VND – Photo: Trong Nhan

He said his family did not hesitate to invest in English for their two children, choosing two full tuition packages of 112 million VND (250 sessions) and 25,6 million VND (96 sessions).

In less than three months, the center began to close, and Mr. P. from taking his children to Apax to study, now had to turn to... demand money. What is worrying is that this trend of parents collecting debt is gradually increasing.

There are all kinds of debt collectors. There was a woman in Binh Thanh who paid more than 80 million VND for a full IELTS course and was guaranteed that her child would get IELTS 7.0, but then wanted to withdraw her money because she saw that the teaching center was crap.

About 5 groups of parents are having financial difficulties and want to withdraw and request the international school to return the pre-paid tuition fees. Most recently, the parent groups involved in the bankruptcy of Apax Leaders and American International School Vietnam (AISVN)...

It can be seen that in any transaction related to tuition at private schools, parents and students are still the "holding tongue" party because of legal loopholes.

Decree 81 of the Government currently stipulates that tuition must be collected on a monthly basis, but many private educational institutions are turning tuition into "educational investment packages", "companion contracts", "contracts". capital contribution"…

With this form, parents pay a few hundred million to a few billion to the school to "invest" or "contribute capital", in return their children will receive free or reduced tuition, sometimes for 12 years.

Many schools say this is a civil transaction, the parties agree voluntarily. So is it okay that this is also a form of capital mobilization? Looking at real estate projects, if you want to mobilize capital, you must comply with the regulatory framework. As for "educational investment" packages - essentially a way for schools to raise capital - there are almost no regulations.

While the scale of educational investment packages is also very huge: calculate that the international school has 1.000 students, if only 1/5, or 200 people participate in the educational investment package, each package is about 5 billion VND, the school has mobilized 1.000 billion VND. At this rate, it is easy to fall into the situation of the school "fighting the enemy bare-handed" and have consequences.

The second gap is managing the risks that arise if a private educational institution accidentally becomes insolvent. If a private high school is considered to operate like a business, they can declare bankruptcy or cease operations.

However, general education is different from other types of business because it requires stability and continuity. However, neither the Education Law nor the current high school charter has regulations on cases where a school goes bankrupt or loses its ability to operate.

That's why when AISVN International School temporarily stopped operating and students were "uneducated", the authorities were somewhat confused and had no legal corridor to intervene.

The most possible thing that the Department of Education and Training of Ho Chi Minh City is doing is to mobilize other schools to accept transfer students if there is a need.

Finally, the flaw lies in the testing and verification stage. An English center or a private high school in theory are regularly inspected by authorities or independent organizations.

In case an educational institution faces a major crisis, will the testing agencies or accrediting facilities be blameless?

In Singapore, independent accreditation organizations are very effective, continuously assessing the performance of private educational institutions, so parents can always know potential risks early on. .

Socialization of education is a correct policy, reducing pressure on the public school system, diversifying options for students and creating more resources for educational development.

However, recent school default cases show that there is still a need for State management participation through establishing frameworks and institutions to bind investors' responsibilities and protect their interests. of parents.

Above all, the State's legal framework will ensure students' right to study, regardless of public or private school, regardless of the form of learning.



Nguon

Same topic

Seven international schools agreed to accept AISVN students

Ho Chi Minh City Seven high schools training the International Baccalaureate (IB) program agreed to accept students from American International School Vietnam. In a document sent by Ho Chi Minh City to the Ministry of Education and Training on the operations of the American International School Vietnam (AISVN), on March 27, these seven schools can receive 3 students. That is the Australian International School (AIS). ), European International (EIS), Ho Chi Minh City International (ISHCMC), International...

Parents of American International School asked to transfer their children to online learning

More than 100 parents of American International School Vietnam (AISVN) proposed to let their children study online, accepting an additional payment of 10-15 million per month. On the morning of March 28, 3 parents sent a collective petition to the American International School of Vietnam, Ho Chi Minh City Department of Education and Training with the hope that their children could switch to online learning to complete the school year. Ms. Minh Anh, Parents of the school's 115th grade students, group representatives,...

Times when sharks were "stranded"

Shark Thuy was arrested and detained. Information at the press conference of the Ministry of Public Security on the morning of March 26, Lieutenant General To An Xo, spokesperson of the Ministry of Public Security, said that the Police Investigation Agency had prosecuted the defendant and detained Mr. Nguyen. Ngoc Thuy - Chairman of EGroup Education Company, aka shark Thuy, Dang Van Hien - Head of shareholder relations committee of EGame Company, on charges of Fraudulent appropriation of property. Since the end...

Scandal at Apax Leaders before Shark Thuy was prosecuted

The Ministry of Public Security has just prosecuted and temporarily detained Mr. Nguyen Ngoc Thuy (Shark Thuy, born 1982, in Hanoi), founder and Chairman of the Board of Directors - General Director of Egroup Group. Previously, the English system he founded, Apax Leaders, was entangled in many scandals that made parents, teachers, and staff angry. Apax Leaders' scandal started in September 9, when many parents in Dak Lak sent...

How 'Shark' Thuy operated Egroup before being arrested

"Shark" Thuy's Egroup operated for many years based on financial leverage, mobilizing trillions of dong, but in the end, it continuously owed money to investors, begged employees' salaries, and failed to pay tuition. Mr. Nguyen Ngoc Thuy - Chairman of the Board of Directors (BOD) of Egroup Education Group Joint Stock Company, has just been arrested on charges of fraudulent appropriation of assets. Previously, many investors...

Highlights

New Posts

Same author

Han So Hee continues to post letters, netizens are fed up, the war is still long

Many people expressed their frustration with the actress The World of the Married after her impulsive actions: "She posted a post attacking others, leaving behind so many controversies and then deleting it as if nothing happened, I'm really sorry." tired of this behavior", "Things are gradually calming down but So Hee is like...

A boy's hand was crushed while learning to make homemade firecrackers online

Previously, 13-year-old boy HVD (in Binh Tan district, Vinh Long province) was taken to the emergency room in a state of panic; His right hand was blackened, bleeding, and his knuckles were broken due to making homemade firecrackers. According to D., he watched video clips online teaching how to make firecrackers from matchsticks and...

Caricatures in Saigon newspapers before 1975

The book Caricatures in Saigon Newspapers before 1975 is the latest achievement in the process of uncovering the "caricatures" of the past to restore an atmosphere and an era that, although long gone, still leaves an immense influence. to life today. With 30 articles and 4.000 illustrations,...

Million-view 3D mural of a soldier

Those are the images in short clips that many people on TikTok in recent days have seen and shared a lot. The image of a friend in a military uniform seemed to dance on the walls and unique paintings gradually appeared, captivating viewers. He is Ta Van Tiep (30 years old, from Bac Giang). Finance...

Warning of adrenal insufficiency, round face due to overuse of anti-inflammatory drugs

Recently, the Central Endocrine Hospital (Hanoi) received patient HTH (58 years old, residing in Dinh Hoa, Thai Nguyen) with type 2 diabetes, hypertension, spinal degeneration for many years, and glandular insufficiency. Adrenal acute and severe infections. Taking medical history, Mrs. H. regularly takes high doses of M. (a corticoid drug...

Much read

The latest regulations on temporary residence and temporary absence 2023

Summary of the latest frequently asked questions about temporary residence and temporary absence in 2023.

Vietnamese female student admitted to Harvard Medical School for a master's degree

Born and raised in Bao Loc city (Lam Dong), Thu Phuong chose to study at university in Ho Chi Minh City. But after only one year of studying, the young girl realized she did not belong here. The female student asked to leave school to retake the exam and was accepted into the Foreign Economics major at Foreign Trade University, "packing" and going to the North. At the same time, Thu Phuong also received an email informing her that she had won...

Professor Nguyen Dinh Duc joined the editorial board of a prestigious international journal

Currently, Professor Nguyen Dinh Duc is a member of the editorial board of 10 international journals in the ISI list belonging to prestigious publishers, such as: Aerospace Science and Technology magazine (Elsevier Publishing); Mechanical Engineering Science magazine (Proc. IMechE Part C, SAGE Publishing); Mechanics of Composite Materials magazine...

Technical workers come to Korea and get a job with a salary of 50-60 million VND/month

The Deputy Minister also directly verified information about foreign workers in general, including Vietnamese people at this corporation specializing in the shipbuilding industry, that the company has a good welfare policy and the workers' lives are guaranteed. security, especially labor safety issues. Upgrading labor visas In the technical labor group, the E7 visa (visa for technical workers, with...

South Australia stopped accepting students from three Vietnamese provinces

The South Australian Department of Education temporarily stopped accepting applications from high school students in three provinces of Nghe An, Ha Tinh and Quang Binh. Responding to VnExpress on February 5, the state Department of Education said the decision was made after considering the hometowns of some students who left the boarding house without permission. "This decision is in accordance with the Act on Epidemic Diseases. Educational services for international students, aimed at...

Same category

Foreign language schools do not consider direct admission, but take the exam in a single session

According to the exam plan, this year the Foreign Language Specialized High School does not consider direct admission, giving priority to candidates. The school organizes the 10th grade entrance exam in 3 subjects: Foreign Language Competency Assessment, Math Competency Assessment. and Natural Sciences, Literature and Social Sciences Competency Assessment. Specifically, subject 1 - Foreign Language Competency Assessment with the form of multiple-choice tests and essays,...

Exam schedule for grade 10 specializing in foreign languages ​​in 2024

Except for English, all 10th grades of Foreign Language High School (CNN) increased their targets this year, of which the three classes of Chinese, German, and Japanese nearly doubled. According to the March 28 announcement of the High School for Foreign Languages, Hanoi National University, the school stopped recruiting high-quality classes according to regulations of the Ministry of Education and Training and increased the quota for specialized programs. Grade 3 English majors most recruited...

Electricity University established the Executive Board of the Business and Alumni Network

In recent years, Electric Power University (EPU) has always clearly identified cooperation between schools and businesses as one of the most important tasks, paid attention to and promoted by the school. Linking training between schools and businesses is an objective requirement and an inevitable trend to meet the needs of society and implement the practical orientation of...

Ho Chi Minh City reported to the Prime Minister about the AISVN International School incident

Suspending enrollment for the next school year at AISVNUB People's International School in Ho Chi Minh City and directing the Department of Education and Training to implement solutions to ensure learning rights for students; Do not let students' studies be interrupted... Suspend enrollment for the 2024 - 2025 school year for AISVN International School until...

New Posts

While cooking, the man received news that he had won the Vietlott jackpot of more than 25 billion

On March 26, Vietnam Computer Lottery Company (Vietlott) awarded the Jackpot prize to Mr. VK with a prize value of more than 3 billion VND. Mr. VK is the owner of the Viettel subscriber who won the above Jackpot prize. Previously, through checking the lottery business data system and...

A boy's hand was crushed while learning to make homemade firecrackers online

Previously, 13-year-old boy HVD (in Binh Tan district, Vinh Long province) was taken to the emergency room in a state of panic; His right hand was blackened, bleeding, and his knuckles were broken due to making a homemade firecracker. According to...

Unique brocade weaving craft of Ta Oi people

Ta Oi people have very indigenous culture and life features from costumes to customs, in which brocade weaving is a long-standing craft called Dem weaving. This is originally the job of women, ladies, and sisters in their spare time, farmers...

Celebration of the 120th Birth Anniversary of Comrade Nguyen Luong Bang

On the occasion of the 120th birth anniversary of Comrade Nguyen Luong Bang (April 02, 04 - April 1904, 02), on the morning of March 04, Party and State leaders came to offer incense at the Memorial House in Thanh Tung commune, Thanh Mien district and attended the 2024th birthday anniversary of comrade Nguyen Luong Bang organized by Hai Duong province. Commissioner...

[Photo] Celebrating International Francophone Day in Hanoi

NDO - The annual International Francophone Day celebration has become a festival for French speakers and French lovers in Vietnam. On the evening of March 20, in Hanoi, the Ministry of Foreign Affairs coordinated with the International Organization of the Francophonie (OIF) to organize a ceremony to celebrate the International Day...

New Posts