The Student Protection Scheme (SPS) serves to protect the students’ fees in the event a PEO is unable to continue operations due to insolvency, and/or regulatory closure. Furthermore, the SPS protects the student if the PEO fails to pay penalties or return fees to the student arising from judgments made against it by the Singapore courts.
At TMC we have put in place two SPS schemes: the Student Tuition Fee Account (Escrow) and the Student Tuition Fee Insurance.
We have entered into a Master Escrow Agreement between CASE and DBS Bank Limited. The copy of the Master Escrow Agreement can be downloaded here. The Master Escrow Agreement sets out, inter alia, the details upon which TMC has established an escrow account with DBS Bank Limited for the purposes of receiving payment of the student tuition fees and the circumstances in which the amounts in the escrow account shall be payable to us and/or the student.
Our Student Tuition Fee Insurance Scheme with NTUC Income indemnifies students for their tuition fees paid in advance under these circumstances: i) in the event that the PEO is not able to continue operations due to insolvency and/or regulatory closure; ii) if the PEO fails to pay penalties or return fees to the student arising from judgments made by the Singapore courts; and iii) in the event upon death or total permanent disability of the student. The copy of the NTUC Income Student Tuition Fee Account can be downloaded here.
It is also our standard operating procedure to enter into a student contract with the student prior to confirmation of enrolment and this policy is communicated to the student through our various communication channels.
In addition, we have in place a Student Service Policy detailing our service quality policy, refund policy, transfer and withdrawal regulations, course enrolment information, confidentiality policy on student data, marketing communications and feedback mechanism. This Student Service Policy is readily accessible for reference at our frontline counters and here.
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