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Pola Biaya Perlindungan Introduction to the Fee Protection Scheme (FPS)
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.
EduTrust-certified 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.
Private education institutions can choose to adopt either the escrow scheme, insurance scheme, or a
combination of both to provide fee protection to all their students.
- Escrow Scheme
Beacon School of Technology has opened an Escrow account with the Development Bank of Singapore (DBS) to protect the fees of all our students.
With this facility, students do not pay their tuition fees directly to the school, but into a special bank account, called an Escrow account. The bank will then pay the tuition fees to the school in installments over the duration of the students' course. In the event of the school canceling a course or closing down, the bank will return the unconsumed portion of the tuition fees to the student. -
Insurance Scheme
Beacon School of Technology has entered into a master insurance agreement between CPE and Lonpac Insurance Bhd (the "Master Insurance Agreement") for the purpose of insuring, among other things, the Student. This Master Insurance Agreement can be found here, and sets out, among other things, the events under which students are indemnified for their Course fees paid to Beacon School of Technology.
Step 1: Upon enrolment all international students are required to enter into a PEI-Student Contract that is legally binding between Beacon School of Technology and the student. The contract covers the following areas:
Section 1 – Course Information and Fees
Section 2 – Refund Policy
Section 3 – Fee Protection Scheme (FPS)
Section 4 – Medical Insurance Scheme
Section 5 – 11: These sections contain additional information to guide you on how to apply for a Student's Pass, what to expect when your PEI changes ownership/management, and other relevant matters.
Please read the content of the contract carefully before signing. The following is a sample copy of the contract you will be required to sign when you sign up for a full-time course:
If you have any questions regarding the PEI-Student Contract please contact us at enquiries@beacon.edu.sg.
Step 2: Students will receive a Letter of Confirmation with a copy of the payment voucher from Beacon School of Technology stating the amount of the course fees that students are supposed to deposit into the Escrow bank account and due dates for them to do so. The Letter of Confirmation also outlines the modes of payment into the Escrow Account. Course fees can be paid into the ESCROW account with DBS Bank Singapore through cashiers order, cheque, telegraphic transfer, Cash at any DBS branch, ATM transfer or Internet Banking (the last two modes require the student to have a bank account with POSB/DBS in Singapore). Please always retain a receipt from your transaction for your own records and to show the school you have paid your fees.
Step 3: Students can verify the status of their fee protection via the Fee Protection Monitoring Application (FPMA) on the CPE website.
For more information about Fee Protection Scheme (FPS) click here.