Come on folks, this will hurt the Aviation industry. I'll be the first to put my hand up and say that in the past I've seen a lot of money wasted on people who just wanted to be "Pilots" but never really thought about it due to the ease of entry, but there are a lot of colleges and institutions out there that have invested large amounts of money to gain VET-FEE accreditation and all of that is about to go down the drain.
This won't be good for the industry, the smaller companies out there might get some minor benefits but all in the all, the number of Pilots undertaking training will likely drop, Flying Schools will see more of their money that they've invested gone to waste and thusly we'll see more companies go under as they decide it's no longer worth it or no longer possible for them to survive.
This is great news to tighten the belt and stop people from taking advantage as has happened in the past, we've all no doubt heard about "Colleges" signing up students who don't undertake courses and thusly pocketing the money which is bad for the Tax Payer, but their shenanigans will now hurt our Industry I believe.