EduSA implements bonding scheme to protect students’ interests
Education South Africa (EduSA) has recently set up a Voluntary Bonding Scheme (VBS) as a practical means to encourage language students from all over the world to securely enrol at South African English language schools. All member schools are part of the scheme and have made annual payments to a large insurance underwriter (SGI), who will guarantee the booking of any student affected by the closure of an EduSA member school. With an overall collective value of EUR 167,000.00, the bonding scheme is more than sufficient to cover any eventualities as a result of an unfortunate school closure.
According to EduSA’s CEO, Mr Torrique Borges, “Our members are pleased to be participating in the scheme, as it sends a strong message to language learners and the industry at large that we, as an association, accept that businesses do fail, however, the scheme will ensure that no student is adversely affected by such a closure”. Borges goes on to explain that “if one of our members close; we believe that students would be better off if they were not to have to forego their travel plans on account of something that is beyond their control. Rather,” Borges continues “they must come to South Africa and we will ensure that they are accommodated at a comparable EduSA member school, where they will enjoy similar services as originally booked.”
Borges concludes by saying that “our experiences of the last few years have taught us that travellers tend to bear an unnecessarily large portion of the financial burden in the event of business failures. We believe that affected individuals – who are lucky to recover a few cents on every Dollar/Euro initially spent – will benefit from EduSA’s Guarantee Scheme because, in the unlikely event of a business failure, the student will still have their booking honoured, although with another EduSA member school. Business failures are entirely beyond the control of the client so we feel that students should be protected to the maximum extent possible.”