The Industry-Wide Course Fee Protection Insurance Scheme (IWC) is administered by CPE under the
Enhanced Registration Framework (ERF). The purpose of IWC is to protect the unconsumed course fees paid by students in the event that a PEI is unable to continue operating. The IWC is a group-based insurance policy that provides coverage to students studying in the PEIs. The PEIs must subscribe to the IWC if they wish to collect up to six months of course fees at any one time.
Fee Protection Scheme (FPS) serves to protect students’ fees in the event a private education institution is unable to continue operation due to insolvency, and / or regulatory closure. FPS 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. FPS is applicable to all students regardless of nationality and the type of passes held by the students, i.e., dependent’s pass, student’s pass, work permit, etc.
Marketing Institute of Singapore Business School has appointed Lonpac Insurance Bhd (CPE appointed service provider) for the Industry-Wide Course Fee Protection Insurance Scheme (IWC) and Fee Protection Scheme (FPS).
For further clarification and claims, do approach the Student Administrators at the Student Service Centre.
Click here to view the FPS Certificate.