Fee Protection Scheme
Fee Protection Scheme |
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| CPE requires all students’ (local and international students) paid course fees to be protected. As required by CPE, we have in place a Fee Protection Scheme (FPS). The FPS serves to protect the student’s fees in the event the PEI is unable to continue operations due to insolvency, and/or regulatory closure. In addition, the FPS protects the student if the PEI fails to pay penalties or return fees to the student arising from judgments made against it by the Singapore courts. The FPS is available in 2 forms, either insurance or escrow scheme. This scheme is compulsory for all students. | ||
| Insurance Scheme | ||
SHRM will purchase insurance from the list of CPE-approved FPS providers for all students enrolled to ensure protection of the students’ fees. Under the insurance scheme, SHRM is allowed to collect the total fees from the students directly. SHRM shall purchase insurance on the same day of receipt of the fees from the student. 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. |
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| Escrow Scheme | ||
Alternatively under the Escrow scheme, SHRM will not receive any fees from the students. 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 SHRM. |
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| You will be informed which FPS you will be covered under prior to signing the PEI-Student Contract. | ||
| All fees paid by you to be enrolled at SHRM except for application fee, will be protected by FPS. GST is not inclusive as part of fees to be protected. There is another type of fee payable which is referred to as miscellaneous fees. Miscellaneous fees refer to any non-compulsory and non-standard fee which you will pay only when necessary or applicable, for example, supplementary paper and repeat fees. Such fees are normally collected on an ad-hoc basis by the PEI when the need arises. These miscellaneous fees need not be protected but they will be reflected clearly in the student contract. | ||
| Below is a copy of the certificate issued to SHRM for Policy Fee Protection Scheme (Insurance) in relation to the EduTrust Certification Scheme implemented by Council for Private Education. | ||
| - Fee Protection Scheme (Insurance) Certificate of Insurance | ||
| Below is a copy of the clauses in the Master Policy stating the the insurance coverage details. | ||
| - Master Policy Clauses | ||
| More information about the FPS can also be found in the FPS Instruction Manual, available at CPE’s website at www.cpe.gov.sg | ||
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