Fee Protection Scheme (FPS)

Policy Statement

Stalford Academy is committed to safeguarding the course fees paid by our students. In strict compliance with the regulations set forth by the SkillsFuture Singapore (SSG), the Academy has implemented the Fee Protection Scheme (FPS) to protect the financial interests of both local and international students.

Scope of Protection

The FPS serves as a mandatory safety net for students. It protects course fees in the event that a Private Education Institution (PEI):

  • Is unable to continue operations due to insolvency and/or regulatory closure.
  • Fails to pay penalties or return fees to the student arising from judgments made against it by the Singapore courts.

FPS Implementation Mechanism

Stalford Academy employs the FPS Group Insurance (FPS-G) model to provide full protection for all Course Fees.

Appointed Insurer

Lonpac Insurance Bhd (SSG-appointed service provider).

Coverage Mechanism

A Master Contract of Insurance is issued to Stalford Academy with a pre-determined Maximum Insurable Limit (MIL). The Academy insures the total course fees paid by all students, ensuring that at no time does the utilisation of coverage exceed the MIL.

Student Verification

Students may verify their protection status directly with Stalford Academy or the appointed insurance provider.

Coverage Period and Activation

Commencement

Insurance coverage commences effectively from the date of fee payment.

Duration

The insurance coverage for the student shall commence from the fee payment date and cover the course duration the fee is paid for or till the course end date.

Notification

Stalford Academy undertakes to notify the insurer of the student’s payment within 30 working days of receipt.

Proof of Coverage

Students paying via PayNow, Cash, Cheque, or Telegraphic Transfer (TT) will be issued a Receipt on the same day of payment.

Authorised Fee Collection Limits

As an EduTrust certified PEI, Stalford Academy adheres to the following collection standards:

Standard Collection

The Academy is authorised to collect course fees for a duration of up to 12 months at any one time.

Loss of Certification

In the event that EduTrust certification is withdrawn, the Academy shall strictly limit fee collection to a maximum of 2 months (or up to 6 months if subscribed to the Industry-Wide Course Fee Insurance Scheme).

Exemptions from FPS Coverage

Students and parents are advised that the Fee Protection Scheme applies strictly to Course Fees. The following items are exempt from FPS coverage:

  1. Course application fee
  2. Prevailing Goods and Services Tax (GST)
  3. Miscellaneous Fees
  4. FPS insurance premium
  5. Examination fees (specifically those collected less than 2 months before the examination date)

Certificate of Insurance

Stalford Academy FPSG Certificate