Ritika Pratap 
University students. [File Photo]
The $650m outstanding Tertiary Education Loan Scheme debt has been forgiven, however, the 53,725 students will need to fulfil the criteria set by the government in order to qualify.
Tertiary Scholarships and Loans Service Chief Executive, Hasmukh Lal explains debt has only been forgiven for the pre-service schemes.
According to Lal, students who have gone overseas and are doing their repayment will continue, while those who took loans through the in-service TELS scheme will also need to repay their debts.
Lal has stressed that the rationale behind forgiving the TELS loan is that graduates will need to provide service to the country.
“So instead of having a direct monetary return through the loan repayment, with the bonding service it is going to be a non-monetized return to the country by service to the country, and that will be through paid employment.”
Around 19, 000 students have terminated or absconded their studies under TELS which amounts to $190m.
Lal says these students will still need to demonstrate to the Fiji Revenue and Customs Service that they have worked in the country.
“For example, if they study for two years, and they have worked for three years in the country, than they will be cleared from the bond.”
In the new Fiscal Year, the TSLS will fund around 10, 920 new students, while there are 9, 300 existing students.
From August 1st, the Tertiary Scholarship and Loans Service will be replaced with the Fijian Scholarship Scheme.
Stream the best of Fiji on VITI+. Anytime. Anywhere.
