Fee Protection Scheme
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 International College (formerly known as Beacon School of Technology) has opened an Escrow account with the Development Bank of Singapore (DBS) to protect the fees of all our students. A copy of the Certificate of PEI Escrow Establishment is available here.
Account Name: Beacon School STFA (Escrow)
Account No: 003-901586-0
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 International College (formerly known as Beacon School of Technology) has entered into a master insurance agreement between CPE and Lonpac Insurance Bhd for the purpose of insuring, among other things, the student. A copy of the Insurance Certificate can be found here,
For more information on the FPS, please visit the CPE Website.
Upon enrolment all international students are required to enter into a PEI-Student Contract that is legally binding between Beacon International College (formerly known as Beacon School of Technology) and the student.
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 email@example.com.
- Escrow: Students will receive a Letter of Confirmation with a copy of the payment voucher from Beacon International College (formerly known as 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.
- Insurance: Student will receive a Fee Payable stating the amount of the course fees that student has to pay. Payment modes accepted are: cash, ATM, cheque, Bank draft and TT. Student will receive a Certificate of Insurance (COI) as evidence of FPS coverage after payment is made.