The Private Education Act was gazetted in October 2009 to provide the Council for Private Education (CPE) with the legislative powers to regulate the private education sector more effectively and improve its quality. CPE will implement a mandatory registration tier to enhance the standards that private education providers will need to adhere to. As required under the Enhanced Registration Framework, PSB Academy undertakes to inform CPE and its students of any change in ownership or management within 14 working days.

A quality assurance framework, known as EduTrust, will also be introduced to provide a quality differentiation mechanism. (Please refer to CPE website) Under the EduTrust Certification Scheme, private education providers must adopt a Fee Protection Scheme with the CPE-appointed service providers and provide medical insurance coverage for hospitalisation and related medical treatment throughout the entire course duration. 

Fee Protection Scheme (FPS)

Under the Fee Protection Scheme, PSB Academy has put in place an insurance arrangement that ensures fees paid by students to the school are insured by Lonpac Insurance Bhd, a CPE-appointed service provider. The insurance protection serves to protect the students' fees in the event a private education institution (PEI) is unable to continue operations due to insolvency, and/or regulatory closure. Furthermore, 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 compulsory for all local and international students taking courses at PEIs seeking EduTrust certification. FPS applies to all courses with duration of more than one month or 50 hours. Students enrolled in these courses will be required to pay a fee for FPS which varies depending on the fees of the courses insured.

• Click here to view Fee Protection Scheme Insurance Policy
• Click here to view details of implementation of FPS

Medical Insurance Coverage

PSB Academy has put in place Medical Insurance under which all its students (except those specifically allowed to opt out under EduTrust Certification guidelines) will be insured by Group Hospital & Surgical Insurance.

The Group Hospital & Surgical Insurance is an expense reimbursement plan with a limit of up to S$20,000 per year. It will help to reduce the financial burden of the insured student in the event that he/she needs to be hospitalised in government/restructured hospitals. The premium payable for the entire duration of the programme is indicated in fee schedule of the student contract.

Singaporean/PR and non-Student’s Pass international students who are already covered by their own medical insurance plan (with an annual limit not less than S$20,000) may be exempted from the plan provided by PSB Academy. You may opt out of the Medical Insurance Coverage by submitting a copy of your medical insurance policy to your Programme Executive. CPE has mandated that students who opt out must produce their medical insurance policy for verification by the PEI. PSB Academy will only exempt students who submit a copy of their medical insurance policy for opting out.
 

• PSB Academy Medical Insurance General Information
• PSB Academy Medical Insurance Benefit Schedule for Group Hospital & Surgical (GHS)
• PSB Academy Medical Insurance GHS Product Summary and FAQ

To make a claim, Insured students can download the Medical Insurance Claim Form and submit the completed form to Student Affairs (Block E-103).

• AXA Insurance PEI Combined Claim Form (Govt and Restructured Hospitals)
• AXA Insurance PEI Combined Claim Form (Private Hospital Certification)
   

Student Contract

The Private Education Institution-Student Contract clearly states the following:

• Course title with modules or subjects clearly listed
• Date of commencement and completion of each intake/course
• Scheduled holidays
• Examinations and/or assignment dates for each intake/course
• Name of organisation awarding/conferring the results and certificates
• Fee collection schedule
• Withdrawal, transfer & refund policy

For a sample of CPE approved Student Contract, please click here.
For enrolled students, please refer to the contract issued to you.