Last night, a letter was sent from the administrators to all staff about the decision.
"We do not currently have sufficient funds available to meet payroll and other costs which would allow us to continue trading the Group on a 'business as usual' basis," the letter read.
Students were sent also a text message at 10:45pm which read, "All activities of Careers Australia Group are suspended. No classes, no workplaces effective immediately. Further information will be provided."
Careers Australia released a statement about the decision.
"Regrettably, due to a number of changes in the education sector, we have had to appoint voluntary administrators.
"We are very disappointed that the business has had to make this decision, particularly for the 1,000 staff and 15,000 students affected" the statement said.
Careers Australia, one of Australia's largest vocational education institutions, has been placed into voluntary administration with up to 1,000 employees stood down immediately without pay.