The Private Education Act was gazetted in October 2009 (the Bill was passed in parliament on 14th Sept 09) to provide for the establishment of the Council for Private Education (CPE) with the legislative powers to regulate the private education sector more effectively and improve its quality. CPE has implemented a mandatory registration tier to enhance the standards that private education providers will need to adhere to. A voluntary quality assurance framework, known as EduTrust, has also been introduced to provide a quality differentiation mechanism. (Ref: www.cpe.gov.sg)

Under the EduTrust Certification Scheme, private education providers must adopt Fee Protection Scheme with the CPE-appointed service providers and provide medical insurance coverage for hospitalisation and related medical treatment for the entire course duration.

Fee Protection Scheme (FPS)

Under the Fee Protection Scheme, PSB Academy had put in place the insurance arrangement to ensure that fees paid by students to the school are insured by 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 in PEIs seeking EduTrust certification. FPS applies to all courses with course duration of more than one month or 50 hours. Students enrolled in the programmes will be required to pay fees for FPS which varies depending on the insured programme fees.

Fee Protection Scheme by Insurance Arrangement

The following provides details on implementation of FPS.

• Students will pay FPS fees upon signing the contract with PSB Academy
• PSB Academy will purchase insurance upon collection of fee through application system of insurance provider
• Students will receive the insurance certificate via email from the insurance provider. Students may also check the CPE website to verify that they are protected under FPS, details to be provided by CPE
• The insured period is for the entire duration of the programme as stated in the course outline/schedule provided during admission. Students who seek deferment or re-enrolment resulting in extension of the programme duration will have to pay additional premium for the course fees applicable to the extended period.

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

Medical Insurance Coverage

PSB Academy had put in place the 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 an annual limit of up to S$20,000 per year that helps to reduce the financial burden of the insured student in the event that he/she needs to be hospitalized in government/restructured hospitals. The fee 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 (annual limit not less than S$20,000) may be exempted from the plan provide by PSB Academy. Those undertaking full-time courses must produce their medical insurance policy for verification should they want to opt out. You must opt out by declaring in the PEI-Student contract or addendum to PEI-Student contract accordingly.

The following provides details on the group medical insurance coverage

• Students will pay medical insurance fees upon signing the contract with PSB Academy
• PSB Academy will include students in the group medical insurance policy with the insurer upon collection of fee
• Insured students will receive a copy of the product summary and FAQ stating the policy’s terms and conditions, the claims procedure and exclusion, etc
• The insured period is for the entire duration of the programme as stated in the course outline/schedule provided during admission. Students who seek deferment or re-enrolment resulting in extension of the programme duration will have to pay additional medical insurance fees applicable to and charged by the insurer for the extended period
• Insured student will not be covered by group hospital & surgical insurance if he/she is out of Singapore for a period exceeding ninety (90) consecutive days at a time
• Insured international student will not be covered by group hospital & surgical insurance once the Student’s Pass is cancelled by Immigration & Checkpoint Authority (ICA)
• Pre-existing illness will not be covered

• 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 PEI-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
• Refunds for withdrawal from course

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