The Ministry of Education?on Sunday warned students considering studying overseas against Australian schools run by the GEOS group after more than 40 Chinese students were left stranded with the group's collapse.

More than 2,300 students in GEOS group schools across Australia were affected after the college closures. The schools were scattered across Sydney, Melbourne, Brisbane, Perth and Cairns.

GEOS is a Japanese company which owns hundreds of colleges around the world. The GEOS group has run out of money for its Australian colleges, according to Australian media reports.

Chinese embassies and consulates in Australia are negotiating with local authorities to settle the issue to safeguard students' legitimate rights.

The Ministry of Education?has drawn up a recommendation list of nearly 15,000 schools in 33 countries worldwide on its website. The recommended schools are relatively trustworthy and reliable.

Australia has been a preferred destination for overseas education for Indian and Chinese students.

The Australian Bureau of Statistics said the number of Chinese student enrollments was 146,000 by June 2009, up an average annual 16 percent over the past six years.