The provincial New Democratic Party says the high number of private colleges and institutes under investigation or suspension in B.C. is proof that deregulation has not worked.

In the past two years, 140 private schools, colleges, institutes and academies have closed, and 140 have been temporarily suspended — more than half of the 500 private schools registered with the province.

NDP advanced education Critic Rob Fleming says the problem is the Liberal decision to allow the industry to regulate itself.

"It's a bad situation. It's eroding our reputation abroad, and students have been left in the lurch for tens of thousands of dollars, and it demands the government's attention."

Advanced Education Minister Murray Coell, however, says that the number of suspensions proves self-regulation is working, and that many schools are able to fix their problems and continue operating.

As for the large number of closures, Coell says that's normal for the industry.

"Many of those are just very small schools that just have a handful of students. That's not too uncommon, if you look at the last couple of decades in British Columbia in terms of how many schools start."

But Fleming points out a further 15 private colleges, are under investigation for financial irregularities, most involving large amounts of student loans.

"We have become a haven for degree mill and unscrupulous fly-by-night operators, and we have got the attention of places like Korea, China and India now issuing warnings to their students that they take certain high risks when they enrol at private institutions in B.C."

Fleming says it's time the ministry suspended self-regulation and called in the RCMP.