Fee Protection Scheme
The Fee Protection Scheme (FPS) serves to protect students' fees in the event a private education institution is unable to continue operating due to insolvency, and/or regulatory closure. The Fee Protection Scheme also protects students if the private education institution fails to pay penalties or return fees to the students arising from judgement made against it by the Singapore courts.
In line with EduTrust requirement, private education institutions are required to adopt the Fee Protection Scheme to provide full protection to all fees paid by their students. All fees refer to all monies paid by the students to be enrolled in a private education institution, excluding the course application fee, agent commission fee (if applicable), miscellaneous fees (non-compulsory and non-standard fee paid only when necessary or where applicable, for example, the re-exam fee or charges for credit card payment etc,) and GST.
Hanbridge School adopted DBS Bank Ltd as the ESCROW bank and LONPAC Insurance BHD as insurance company. It is applicable to all local and international students.
i) ESCROW Scheme
Under ESCROW scheme, Hanbridge School shall not receive any fees from the students. All students will pay their fees directly to the DBS bank and bank will act as a trustee and disburse the fees on a regular basis to Hanbridge School.
A copy of MASTER ESCROW AGREEMENTis available here.
ii) Insurance Scheme
Under insurance scheme, Hanbridge School is allowed to collect the total fees from the students directly. Insurance will be purchased on the same day upon receipt of the fees from the student. In the case of e-banking/telegraphic transfer/cheque payment, the insurance effective date must be the same as the date when the money is credited to the Hanbridge School’s bank account. Insurance must be bought within 3 days after the money is credited to the Hanbridge School’s bank account. The insurance coverage shall commence from the date of payment of the fees till the due date of the next payment or the course end date whichever is earlier.A copy of MASTER INSURANCE AGREEMENT is available here.
All students are placed on the Insurance Scheme with the ESCROW Scheme as an alternative/option.
A copy of the Certificate of PEI ESCROW Establishment is shown below.
- Certificate of PEI ESCROW Establishment
A copy of the FPS Master Insurance Policy (The Schedule) is shown below.
- FPS Master Insurance Policy (The Schedule)
A copy of the FPS Insurance Details stating the insurance coverage details, exclusions, etc is shown below.
A copy of the Personal Accident Benefits Extension to the FPS Master Insurance Policy (The Schedule) is shown below.
- Personal Accident Benefits Extension
Students can verify if his/her school fees are protected under the FPS through the CPE website.
More information about the FPS, including the FPS Instruction Manual, is available at the CPE's website (www.cpe.gov.sg)