Minister clarifies TELS repayment
July 6, 2015 7:05 pm
Recipients of the Tertiary Education Scholarship and Loan Scheme will only start repaying their loans, once they find employment.
Education Minister told Parliament there are provisions and benefits of the TELS scheme.
“TELs students have more flexibility to move to Global Labour market because if they wish to migrate, without serving the bond period they only have to pay 150 percent of the loan, whereas the toppers have to pay 200 percent.”
Three percent of TELS students have so far paid their loans and migrated.
A total of nine thousand eight hundred and seven students are studying under the TELS scheme, while eight hundred and thirty four students are benefiting through the National Toppers Scheme.
Opposition Member Dr. Biman Prasad asked the Education Minister whether the loan repayment will be considered, given the scarcity of employment for graduates.