From 21 December 2009, all Private Education Institutions (PEIs) must register with the Council for Private Education (CPE) to operate in or from Singapore. The new regulatory regime, sets out under the Private Education Act and its subsidiary legislation, comprises the mandatory Enhanced Registration Framework (ERF) and the voluntary EduTrust Certificate Scheme. Both ERF and EduTrust will be administered by the CPE.

For more information, please refer to CPE website: www.cpe.gov.sg

Following are the new requirements that Fortune School of Technology and Management has implemented:-

1. PEI-Student Contract

To enhance the confidence of students and their parents in the quality of education in Singapore, we will enter into a standard PEI-Student Contract with each of our students. The contract lays out the important terms and conditions governing the relationship between the student and Fortune School of Technology and Management. We declare to honour all terms and conditions spelt out in the contract and in all our marketing and communication materials.

A copy of the standard student contract is available at our School upon request and also on the CPE website: www.cpe.gov.sg

2. Fee Protection Scheme (FPS)

All fees are payable to Fortune School of Technology & Management Pte. Ltd.
FPS Escrow Account (A/c No. 152-636874-002) at Singapore by TT / Bank Draft / Net in HSBC Bank Account.

The Fee Protection Scheme (FPS) serves to protect students’ fees in the event a PEI 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 judgement made against it by the Singapore courts. The FPS is applicable to ALL students (local and international). It is mandatory for all students to apply for FPS and sign a student contract when they enrol for courses with any Private Education Institution (PEI) with EduTrust Certification or seeking EduTrust Certification.

Fortune School of Technology and Management has appointed HSBC as our FPS provider for all students. We have taken out an ESCROW account with HSBC Bank. 

More details of the FPS can also be found in the FPS Instruction Manual, available at CPE’s website: www.cpe.gov.sg

3. Medical Insurance

It is compulsory for ALL international students to have medical insurance coverage for hospitalisation, outpatient and related medical treatment for the entire course duration.

 There are exemptions for Singaporeans, Permanent Residents and non-Student Pass holders if they are covered by their own medical insurance plan. Students who choose to opt out of the medical insurance are to show proof that they have their own medical insurance before making a declaration in the PEI-student contract to opt out of the medical insurance scheme.

Students who have existing medical policies, with the following coverage, may opt-out of this scheme.

• An annual coverage limit of S$20,000
• Coverage of up to B2 ward in government and restructured hospitals
• 24 hours coverage in Singapore and overseas (if students is involved in our School’s related activities) throughout the course duration.

Fortune School of Technology and Management has appointed AIA Insurance Singapore Pte Ltd as the insurance provider for all students.