In September 2009, the Parliament passed the Private Education Bill, which among other things will ensure the quality of courses offered at over 1,000 private schools in Singapore.
The Ministry of Education (MOE) also formed the Council for Private Education (CPE) to oversee the regulatory framework under the Private Education Act. Besides, mandating that private schools maintain consistent standards to satisfy the renewal of their annual licences, MOE has also introduced changes to strengthen the enforcement capabilities of CPE.
The CaseTrust for Education Scheme, currently administered by CASE, will be replaced by EduTrust, which will introduce new requirements over and above those required under CaseTrust.
Private schools registered under the Enhanced Registration Framework (ERF) administered by CPE, will have the option to apply for EduTrust certification. Both ERF and EduTrust will be launched on 21 December 2009.
One of the mandatory requirements to be satisfied by registered Private Education Institutions (PEIs) is to have in place a Fee Protection Scheme, either through insurance or escrow.
CPE has appointed 5 service providers for this scheme and Lonpac Insurance Bhd – Singapore is one of the two appointed insurance providers. Lonpac has put in place a web-based on-line system to enable PEIs, who have taken up the insurance with us, to apply insurance protection of the tuition fees they have collected from their students.
Another by-product of the FPS is the Industry Wide Course Fee Protection Scheme (IWC) which will cover registered PEIs who do not wish to be EduTrust certified. We have also been appointed by CPE as the sole provider of this scheme.
To better manage the schemes and serve our customers, we have appointed Aegis Insurance Services Pte Ltd as our Administration Agent to support Lonpac in the areas of marketing and servicing of our valued clients, the PEIs.
For any PEI who is interested in the FPS or IWC, please contact :-