Fee Protection Scheme

Fee Protection Scheme (FPS)

Parkway College will adopt the Fee Protection Scheme (FPS) to provide protection for fees paid by all our students.

The FPS serves to protect unconsumed course fees paid by students in the event a PEI is unable to continue operating due to insolvency, and/or regulatory closure. The 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.

EduTrust-certified PEIs are required to adopt the FPS 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 (noncompulsory and non-standard fee paid only when necessary or where applicable, for example, the reexam fee or charges for credit card payment, etc) and GST.

Parkway College, working with the insurer, Lonpac Insurance Bhd, has put in place an Insurance Scheme as its FPS for international and local students.

Period of Insurance

The period of insurance will cover the entire duration of the course enrolled by the student. The insurance coverage will commence from the fee payment date till the course end date.

Insurance Premium

• The insurance premium is dependent on programme duration, Parkway College course fees and premium rate quoted by Lonpac Insurance Bhd.
• The insurance premium paid is non-transferable and non-refundable. However, in specific situations, Lonpac Insurance Bhd will grant a partial or full refund. An administrative charge, imposed by Lonpac Insurance Bhd, will be deducted from the refund given. Please refer to Student Admin for more details on the situations.
• The insurance premium is to be borne by the students. 
• All local and international students will be required to pay for the insurance premium.
• The total amount of insurance premium is to be paid together with the course fee for the first instalment.

Certificate of Insurance (COI)

Upon payment of the insurance premium, Lonpac Insurance Bhd will send Certificate of Insurance via email based on the email address which is provided on the application form submitted by the student to Parkway College.

Claim

The insured student needs to produce his/her Certificate of Insurance and original course fees receipts when submitting a claim under the insurance. Lonpac Insurance Bhd will notify all insured students of the relevant claims procedures to be followed.

For more information on FPS, please refer to the following website: https://www.ssg-wsg.gov.sg/

Parkway College, working with the insurer, Lonpac Insurance Berhad, has put in place an Insurance Scheme as its FPS for international and local students.

To view a copy of the Fee Protection Scheme Master Insurance Policy, Policy Terms and Conditions provided by LONPAC INSURANCE BHD, please download a copy here.

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