The closure of four schools in Australia has left at least 400 Chinese students high and dry, prompting China's consulate in Sydney to caution against studying in the land down under.

"I just transferred to (Meridian International Hotel School) to resume my studies several days ago only to see it close," said "Joshua", a Chinese student, in an online forum.

Meridian International was one of four schools under the Global Campus Management Group in Sydney and Melbourne to be closed on Nov 5 after the group failed to repay debts.

There were approximately 400 Chinese students at Meridian International, according to China's consulate general in Sydney in a statement over the weekend. The consulate did not say how many Chinese students, who range in age from 16 to 20, were studying in the other three schools. Reports from the Chinese media gave estimates of nearly 1,000.

The consulate general warned Chinese students and their parents to be careful in choosing Australian colleges. It also called for authorities in Sydney and Melbourne to take action.

"Chinese diplomats in Australia have urged that local authorities properly handle the issue and meet with some of the Chinese students enrolled in the collapsed college group," the consulate said.

Chinese students account for 24 percent of international students in Australia.

The Global Campus Management Group, which managed GCM Fashion Institute, Meridian International Hotel School, International Design School and the Meridian International School, is A$20 million ($18.4 million) in debt and was forced out of operation.

The Australian Department of Education, Employment and Workplace Relations has scheduled meetings today in Melbourne and later in the week in Sydney to brief students affected by the closure, according to a press release by the department on Friday.

International students at the colleges will be offered a place in a similar course at another institution, or a refund of their outstanding fees, the release said.