| | Student Protection Scheme The Student Protection Scheme (SPS) serves to protect the interest and welfare of all International students in Singapore. Established by the Consumers' Association of Singapore (CASE), SPS came into effect on 1 December 2004. With effect from 18th February 2010, PSB Academy has switched over to the Fee Protection Scheme (FPS) under the new EduTrust Scheme administered by the Council for Private Education (CPE). 1) Student Tuition Fee Account (Escrow) As part of CaseTrust requirement, PSB Academy has put in place the Student Tuition Fee Account (Escrow), offered by The HongKong and Shanghai Banking Corporation Ltd (HSBC) Bank. Tuition Fees paid by the students to PSB Academy will be left in the custody of the Bank and the Bank will disburse the tuition fees to the school on a regular basis This disbursement will stop if a Private Education Organisation (PEO) is unable to continue operations due to insolvency, and/or regulatory closure or fails to pay penalties or return fees to the student arising from judgements made against it by the Singapore courts.
2) Student Tuition Fee Insurance Scheme Other than Escrow, PSB Academy has also put in place the Student Tuition Fee Insurance Scheme to ensure that tuition fees paid by students to the school are insured, in this case with NTUC Income Insurance Cooperative Limited, as part of the SPS.
For more information, please visit CaseTrust or Singapore Education websites. What is the purpose of the Student contract? For intakes that commenced in March 2010, PSB Academy has adopted the Standard PEI-student Contract approved by the Council for Private Education (CPE). For students who had signed the CASE-Approved Student Contract, the contract remains legally binding between PSB Academy and its students, and continues to embody the following mandatory requirements:
Samples of CASE-Approved Student Contract:
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