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Fee Protection Scheme (FPS)
From 1 May 2010, all students are protected under Fee Protection Scheme, in compliance with EduTrust guidelines. All existing students who are protected under the Student Protection Scheme will automatically be converted to be protected under the Fee Protection Scheme.

1. Following the launch of the new private education regulatory regime on 21 Dec 2009, PEIs need to be EduTrust-certified before being able to offer placement for international students who require a Student's Pass from the Immigration and Checkpoints Authority (ICA). To obtain the status, PEI must apply for a Fee Protection Scheme (either Escrow or Insurance Scheme).

2. N2P2 has selected the insurance scheme with Lonpac Insurance Bhd. The Fee Protection Scheme indemnifies students for their tuition fees paid in advance to the PEI for the folllowing events:

All students will pay their fees directly to the CPE-appointed banks and the bank will act as a trustee and disburse the fees on a regular basis to the PEI. The disbursement arrangement under the escrow scheme shall be as follows:

Milestones Amount Payable to PEI
a) Within 5 days from commencement of course for the year - 20% of course fees paid by students into the escrow banks*
b) Each subsequent month, on 1st of every month - 80% of course fees paid by students into the escrow banks* to be disbursed evenly
c) Subsequent year, should the course duration be more than 12 months - Disbursement will follow that of (a) and (b)
*Maximum of 12 months for EduTrust- Certified PEI

Before officially admitting the student, N2P2 shall:
  • Provide and explain the detailed breakdown of fees payable by student and payment schedule;
  • Clearly state any miscellaneous fees chargeable (for example, ad-hoc charges such as re-exam fee, membership charges etc)
  • Explain FPS and assure that 100% of the payable fees 11 will be protected under the scheme
  • Address all other queries relating to FPS that the student might have
  • Provide CPE website address to prospective students for more details of the FPS
Upon officially admitting the student, the PEI shall:
  • Reiterate the information shared during the student’s admission
  • State the FPS scheme and provider that PEI has adopted and explain the FPS scheme in detail
  • Explain the procedures that the students should adhere to, and the official documents that the student should expect to receive under the adopted FPS scheme.
  • Advise the student on the payment schedule and the total chargeable fees;
  • Inform students on how they can check and monitor the status of their protected fees at CPE’s official website (www.cpe.gov.sg) under the Fee Protection Monitoring Module.
Specific requirements of the PEI on Escrow Scheme

Under the Escrow scheme, PEI shall:
  • Advise the student on the total chargeable fees (including miscellaneous fees) and the payment schedule; Advise the student on how to make payment to the bank directly using the escrow payment voucher issued by the PEI. Upon receiving the letter of acceptance from the student, the PEI shall also ensure that the following are adhered to:
  • Prepare the Student Escrow Confirmation (SEC) and send it to the bank;
  • The bank will send an Acknowledge Slip (AS) to the PEI upon the confirmation of the successful opening of the Student Escrow account
  • Upon receipt of the AS, the PEI will prepare the payment Voucher (PV) and send both the SEC and PV to inform the student of the successful opening of the escrow account as well as the payment schedule
  • The Student will pay to the bank directly according to the Payment voucher issued by the PEI
  • The Bank will issue an AS upon receiving the Student’s scheduled payments
Click here to view Fee Protection Scheme Insurance Policy.
 
 
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