Fee Protection Scheme

The Fee Protection Scheme (FPS) serves to protect students’ fees in the event a private education institution is unable to continue operating due to insolvency, and/or regulatory closure.  The Fee Protection Scheme also protects students if the private education institution fails to pay penalties or return fees to the students arising from judgment made against it by the Singapore courts.

EduTrust-certified private education institutions are required to adopt the Fee Protection Scheme to provide full protection to all fees paid by their students. All fees refer to all monies paid by the students to be enrolled in a private education institution, excluding the course application fee, agent commission fee (if applicable), miscellaneous fees (non-compulsory and non-standard fee paid only when necessary or where applicable, for example, the re-exam fee or charges for credit card payment etc,) and GST.

Private education institutions can choose to adopt either the escrow scheme, insurance scheme, or a combination of both to provide fee protection to all their students.

MAGES has adopted the Escrow Scheme
Escrow Account Name: Mages Institute of Excellence Pte Ltd –FPS Escrow Account with HSBC Bank , Singapore
Escrow Account Number: 152-614939-002
You can visit http://www.cpe.gov.sg for more details on Fee Protection Scheme.