Under the Fee Protection Scheme (FPS), BEC ensures that applicable fees paid by local and international students are insured by a SSG-appointed service provider in the event that a PEI is unable to continue operating due to insolvency, and/or closure, as well as if a PEI is unable to pay a judgement sum due to a student. Under the FPS Group Insurance, COI will be issued to the PEIs by the FPS Insurance Providers with a determined insurable amount to cover all programme fees to be collected by the PEI during the period of indemnity.
For course fees that were paid on or before 31st Mar 2024, it will continue to be covered by FPS Individual Insurance under Lonpac Insurance Bhd (Lonpac).
For course fees that were paid from 1st Apr 2024 onwards, it will be covered by FPS Group Insurance under Lonpac Insurance Bhd (Lonpac).
The FPS Fee (1.2%) is non-refundable as stated on the student contract.
The following fees are exempted from the FPS, if collected by BEC:
(a) Course application fee
(b) Prevailing Goods and Services Tax (GST)
(c) Miscellaneous fees
(d) FPS insurance premium
(e) Examination fees collected less than 2 months before examination date
For more information on FPS, please visit ssg.gov.sg
Fee Protection Scheme – Group Certificate of Insurance: