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SINGAPORE: Fee protection options will be made available to students of private education institutions (PEIs) when the new regulatory regime for the private education sector is launched on December 21.
The protection options will act as a contingency against school closure.
Under the refined Enhanced Registration Framework, PEIs are given the option to either:
i) Limit their collection of fees to a maximum of two months; or
ii) Purchase fee insurance protection for their students under an industry-wide group insurance scheme.
PEIs that opt for the second option will be allowed to collect fees up to a maximum of six months. They will be required to show proof of their participation in the common insurance pool to the CPE during the registration process in order to be registered.
The Ministry of Education (MOE) warned that students should, however, not expect the payout to be equivalent to what they have paid for the courses. The payout amount would depend on the portion of tuition fees consumed.
Prior to this refinement, there was already provision for all students enrolled in EduTrust-certified PEIs to enjoy fee protection under the Private Education Act.
PEIs that apply for the EduTrust mark are required to participate in a Fee Protection Scheme, with the option of either an ESCROW account for the fees, or purchasing fee insurance protection.
However, as EduTrust certification is voluntary, PEIs that choose not to obtain the EduTrust mark will not be bound by these requirements.
Even with the enhanced refinements, the new regulatory regime cannot by itself prevent regulatory infringements or avert school closures. MOE says students should be discerning and carry out due diligence before deciding on their choice of PEIs and course of study.
- CNA/yb
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