Don't think i've responded to this thread so I'll give it a go..
I finished up FBI last year (started a while before that, took a while to get it done) and to be honest I wouldn't really bother with it unless your having problems finding work placement in the industry... basically your paying $4,000 for work experience... but if that's what you want, they're fairly well connected in Sydney. If you want the business qualification, just get a degree... I started studying through Open Unis (don't have to have finished year 12) and will be finishing up a Bachelor of business with Monash this year... One subject will blitz what you learn at FBI.
I think the thing to consider when choosing which course to do should also be what you want to do with your qualification. If you want to work in Australia, the TAFE diplomas will serve you well, and this applies if you just want to start your own label straight out of school as well.
But if your wanting to spend some time designing for any of the big multinational companies, I would seriously look at getting your degree. It's really too competitive not to have it. UTS is good, but you'll have to blitz your year 12 exams to get in....
Personally I will be applying for RMIT next year (old mother hen at 22, but when you know what you want... B) ). Not only is the course considered excellent, but if you don't have the funds to do an entire course overseas, they have exchange partnerships with both
F.I.T (fashion institute of technology) and
Parsons... two of the world's best schools in New York. I really don't see how any other Australian schools can compete with that....
Just my honest opinion anyway