Introducing Fee Protection Scheme (FPS)
The Fee protection Scheme (FPS) is a Singapore government initiative that requires Private Tertiary Education organisations to report on their arrangements for protecting Learner fees either by insurance or by escrow (trust account). Three main files relate to the FPS compliance standard: the student contract, and FPS Files 1 & 2.
Before you begin, learn about Fee Protection Scheme (FPS) for Edu Trust-certified PEIs from the Committee for Private Education Singapore
Set Up for Correct Reporting
If you are required to complete FPS reporting, it is important that you incorporate specific FPS field collection and processes into your Course offer, Learner and Enrolment setup. The requirements change slightly depending on how you set up your Wisenet database for correct reporting.
Learn More? FPS Fees Summary
Prepare for Exports
While this is not strictly required, it is however recommended, as it allows you to proactively complete your data integrity checks to ensure:
The right amount of data is being reported
There isn’t any incorrect data
Run your FPS Exports
This is required for completing Learner enrolment. It will set up as a credential with formatting specific to your organisation.