Private schools close due to lack of students

The world financial crisis has taken a toll on the local private education scene.
Four schools closed
Four private schools have been forced to close since Jan 09 totaling 11 such closures,disclosed the Consumers Association of Singapore (CASE). Two language schools — Goro Global School and Britannia School of Education — have yet to repay their students fees amounting to some $33,000. CASE received 16 complaints from students, most of whom are from China and Vietnam.The process of recovering the fees paid are mainly from insurance,which all schools are supposed to enrolled, meaning the insurers will have to pay, while in some case if the school do not insure,have to go through the Small Claims Tribunal,which might take a while.Such situations mean that the CaseTrust mark will be revoked.The spokesman said that students need to ensure that the school are well covered by CaseTrust and fees are deposited with the Student Tuition Fee Account or Escrow scheme, Student Tuition Fee Insurance. Under the Escrow scheme, fees are left in the custody of a third party or CASE-endorsed banks for added protection of folding up.