The Kiwi Institute of Training and Education (KITE) has shut down, leaving hundreds of students in limbo.
Many of the foreign students have spent more than $40,000 on an education that may now count for nothing.
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Last night the students received an email from the KITE student support team. It said, "it will take some time to confirm whether or not the students assignments have been marked and verified."
Immigration lawyer Alastair McClymont says the export education industry is based on a scam.
"It's ripping people off by selling qualifications that are of low quality and really have no value whatsoever. It's just a money-making exercise for the Government. But these are the victims, these are the people who have been left on the street out of pocket."
NZQA says KITE have requested to cancel their registration as a private training establishment.
Newshub contacted KITE, who were not available for comment.
In a statement NZQA told Newshub supporting the students is their top priority. And will also continue to liaise with other Government agencies to achieve the best outcomes for students.