Fee Protection Scheme
- FPS serves to protect the course fees (exclude application fee and GST) paid by the students.
- In the event that DIMENSIONS is unable to continue its operations due to insolvency and/or regulatory closure; students can claim the unconsumed fees from the FPS service provider.
- FPS is compulsory for all local and international students taking courses at DIMENSIONS except for short courses with waiver granted by CPE.
- DIMENSIONS has appointed Liberty Insurance as our FPS Insurance provider and DBS Bank as our FPS Escrow provider, both are CPE appointed FPS service provider.
- DIMENSIONS is strictly not allowed to collect course fees beyond 12 months
Details of FPS Insurance Scheme
- Students will pay course fees directly to DIMENSIONS or make a deposit into DIMENSIONS bank account.
- The insured amount (limit of indemnity) shown in the Certificate of Insurance (COI) shall be equal to the amount of course fee paid. (Exclude application fee and GST).
- The insurance coverage period starts from the day of course fees is paid to DIMENSIONS and not from course commencement date, till the end of the course or end of duration based on course fees paid.
- Effective from 17 December 2013 when student make payment, FPS Insurance cover will be purchased within 7 working days. Once the insurance is purchased, student will also receive the COI via email from Liberty Insurance.
- If fee is paid by telegraphic transfer/remittance to DIMENSIONS, original receipt shall be issued to student within 3 working days. If fee is paid directly (such as by cash, internet banking or credit card) to DIMENSIONS, original receipt shall be issued to student on the same day upon receipt of course fees.
- Students should check if the information is correct on the following documents :
- Certificate of Insurance – name, course title and duration, amount insured and period of coverage
- Receipt – student name, date of payment, course title, course fee paid, certificate of insurance number and outstanding amount (if any)
Steps of FPS Insurance Implementation:
Students are advised to understand the following steps to ensure that their fees are well-protected.
Step 1:Student may check on DIMENSIONS’ website for a copy of FPS Insurance Certificate from Liberty Insurance.
Step 2: Upon signing of the advisory note and student contract with DIMENSIONS, check that FPS Insurance protection is included in the contract and pay course fees in accordance to signed student contract.
Step 3:DIMENSIONS will purchase FPS Insurance from Liberty Insurance within 7 working days upon receiving of course fees.
Step 4: Once the insurance is purchased, student will receive the COI via email from Liberty Insurance. DIMENSIONS will print a copy of Certificate Of Insurance and receipt which will be given to students.
Details of FPS Escrow Scheme
- Students to provide signed copy of Student Escrow Confirmation (SEC) slip to DIMENSIONS so that:
- Student’s Personal Escrow account can be established with DBS Bank
- Payment vouchers can be generated
- When Payment Vouchers are received, students to check that course fees, applicable period, course name, number of installments and expected payment dates are accurate.
- Students will pay course fees directly to the DBS Bank FPS Escrow Account according to agreed payment voucher schedules
- Original receipt will be prepared and issued to student within three working days upon receipt of payment in the FPS Escrow Account.
- Students are to check that the information on the receipt is correct – student name, date of payment, course title, course fee paid, and outstanding amount (if any)
Steps of FPS Escrow implementation:
Students are advised to understand the following steps to ensure that their fees are well-protected
Step 1: Student may check on DIMENSIONS’ website for a copy of Escrow Establishment Certificate from DBS Bank.
Step 2: Upon signing of the student contract, check that FPS Escrow protection has been included in the contract. Student also needs to sign the Student Escrow Confirmation Slip.
Step 3: Student will receive a copy of the payment voucher from DIMENSIONS (The payment voucher must state both the portion of the fees that students are supposed to deposit into the Escrow bank account and the due dates to do so.)
Step 4: Student will pay the course fees as stated in the payment voucher and signed student contract.
Click here to view Standard Private Education Institution (PEI)-Student Contract
For more information on the Committee for Private Education (CPE), please click here.