Student Protection Scheme*

We have in place a Student Protection Scheme (SPS) as stipulated by the Consumers Association of Singapore (CASE) by way of a Student Tuition Fee Account (Escrow)/(Insurance).

Student Tuition Fee Account (Escrow):

We have entered into a master escrow agreement between CASE and the Hong Kong and Shanghai Banking Corporation Limited (the “Master Escrow Agreement”) and the PEO Accession Letter is also available on our website at www.aec.edu.sg . The Master Escrow Agreement sets out, inter alia, the details upon which we have established an escrow account with the Hong Kong and Shanghai Banking Corporation Limited (the “Escrow Account” with the “Escrow Bank”) for the purposes of receiving payment of the Student's Tuition Fees and the circumstances in which the amounts in the Escrow Account shall be payable to us and/or the student.

Student Tuition Fee Account (Insurance):

Our Student Tuition Fee Insurance Scheme with NTUC Income indemnifies students for their tuition fees paid in advance under these circumstances: (i) in the event that the PEO is not able to continue its operations due to insolvency and / or regulatory closure; (ii) if the PEO fails to pay penalties or return fees to the student arising from judgments made by the Singapore courts; and (iii) in the event upon death or total permanent disability of the student.

* Local Students optional, International Students mandatory.