Fee Protection Scheme
The Fee Protection Scheme (FPS) serves to protect the students’ fees in the event a Private Education Institution (PEI) is unable to continue operations due to insolvency, and/or regulatory closure. Furthermore, the FPS protects the student if the PEI fails to pay penalties or return fees to the student arising from judgements made against it by the Singapore courts.
FPS is compulsory for both local and international students taking courses at the School, except for short courses with waiver granted by CPE. The following are ways for students to be ensured that their fees are well-protected.
- A copy of SRMC’s certificate of FPS Insurance Policy can be requested from our staff.
Details of FPS are included in the PEI-standard student contract. Students should be aware of the clauses and details of the adopted FPS when signing the student contract and the advisory note.
Singapore Raffles Music College Pte Ltd has entered into a Master Escrow Agreement between CPE and DBS Bank Limited. Under the Escrow Scheme, students will pay their fees directly to DBS Bank who acts as a trustee and disburse the fees on a regular basis to Singapore Raffles Music College Pte Ltd.
Fee Protection Company: Escrow (DBS Bank Ltd)
Escrow Account Name: Singapore Raffles Music STFA (Escrow)
Escrow Account Number: 003-902337-5
The Council For Private Education (CPE)
Established under the Private Education Act, the Council for Private Education is a statutory board empowered with the legislative power to regulate the private education sector. In addition to its role as the sector regulator of private education institutions, the Council facilitates capability development efforts to uplift standards in the local private education industry.
For more details, please visit http://www.cpe.gov.sg.