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The Student Protection Scheme (SPS) serves to protect the students' fees in the event a Private Education Organization (PEO) is unable to continue operations due to insolvency, and/or regulatory closure. Furthermore, the SPS protects the student if the PEO fails to pay penalties or return fees to the student arising from judgments made against it by the Singapore courts. There are two schemes that a Private Education Organisation can choose from:
Tuition fees paid by the students to the PEOs will have to be left in the custody of a third party, in this case the CASE-endorsed banks participating in the Student Tuition Fee Account (Escrow) scheme. When specified conditions for its release have been met, the banks will disburse the tuition fees on a regular basis to the PEO. Student Tuition Fee Insurance The Student Tuition Fee Insurance indemnifies students for their tuition fees paid in advance to the PEO for the following events: - When the PEO is unable to continue operations due to insolvency and/or regulatory closure, or - If the PEO fails to pay penalties or to return fees to students arising from judgements made against it by the Singapore courts, or - Upon death or total permanent disability of the student Student Protection Scheme Documents Hemsdale Associates Master Escrow Hemsdale Management School Master Escrow Hemsdale Associates Student Protection Scheme Hemsdale Management School Student Protection Scheme |
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