Admissions / Schemes / Fee Protection Scheme
As an EduTrust certified PEI, it is mandatory for all students to apply for the Fee Protection Scheme (FPS) when they enrol into our Courses and this is by way of an Escrow Account. FPS protects the unconsumed course fees paid by students in the event that a PEI is unable to continue operating due to insolvency and/or regulatory closure.
STEi appointed FPS provider is DBS BANK LTD
Under the Escrow Bank protection, DBS will act as the trustee and disburse the fees on a regular interval to STEi. Students under this scheme must deposit their course fees directly into the Escrow Bank.
A copy of the Master Escrow Agreement between CPE, DBS Bank Ltd and acceded to by STEi Institute on 22nd December 2009. The Master Escrow Agreement sets out, among other things, the details upon which STEi Institute shall establish an Escrow Account with DBS Bank Ltd (the “Escrow Account” with the “Escrow Bank”) for the purposes of receiving payment of the Student’s Fees and the circumstances in which the amounts in the Escrow Account shall be payable to the STEi Institute and/or the Student.
Course Fees Instalments
STEi Institute hereby undertakes to the Student that as stipulated under the FPS, STEi Institute shall collect fees not exceeding the collection cap calculated according EduTrust certified PEIs:
- 12 months’ worth of fees.
Click here to download a copy of Certificate of PEI Escrow Establishment
Click here to download a copy of Master Escrow Agreement
For more details on Fee Protection Scheme, please visit the website of CPE at http://www.cpe.gov.sg/for-peis/protection-of-course-fees.