Student fee protection mechanism options

The Student Fee Protection Rules name several student fee protection mechanisms you can use.

These include:

standard or static trust accounts
security arrangements such as bank bonds, with a withdrawal trust for the refund period
deferred payment

Appendix B of the Student Fee Protection Rules contains more details.

Student Fee Protection Rules 2022

Establishing or changing a student fee protection mechanism

You can use the option most suitable for your circumstances, if we approve it beforehand.

You can also use more than one option if it covers all student fees and we're satisfied with the coverage.

If you need to establish or change a student fee protection mechanism, including a change of the trustee, complete an application form and submit it to us.

Application for approval of a Student Fee Protection (SFP) Mechanism or Supplier [DOCX, 69 KB]

What to check when engaging a supplier

When engaging a supplier, check the following:

are they independent as defined under section 10(1) of the Education and Training Act and have no conflict of interested in carrying out the role of trustee for the PTE?

do they have experience managing trust accounts that have multiple beneficiaries and frequent transactions?
do they have secure and adequate data processing capacity?
can they resolve competing claims and finalise refunds within the time frames set out in Criterion 14 of Appendix D of the Student Fee Protection Rules?