$1.44 billion has been allocated by TSLS since 2014 and $614 million owed through the loan scheme

$1.44 billion has been allocated by TSLS since 2014 and $614 million owed through the loan scheme

By Krishneel Nair
Thursday 09/03/2023
TSLS CEO Doctor Hasmukh Lal

A total of $1.44 billion has been allocated by the Tertiary Scholarship and Loans Service from 2014 while $614 million is still owed by those who were on the loan scheme as at last Tuesday.

While speaking during a media tour, this was stated by the TSLS CEO Doctor Hasmukh Lal who says, $652 million in loans was given to the students.

The CEO says there was a total recovery of $28.1 million in loans as at 28th of February.

Dr Lal also says a total of 56,995 students have benefited from the Scholarship and Loans Schemes since 2014 and 26,778 of them have graduated.

He also says students having less than $25,000 combined family income pay 0 percent interest, those having a combined home income of $25,001 to $50,000 pay 0.5 percent interest, students having $50,001 to $100,000 pay 1 percent interest while in some rare cases, students having a family income over $100,000 pay 2 percent interest.

The CEO further says in the 2022/2023 National Budget, $162.5 million has been allocated for total scholarships, study loans and grants.

He further says these will be paid out to Fiji National University, The University of The South Pacific, the University of Fiji, Sangam Institute of Technology, Corpus Christi Teachers College, Fulton Adventist University College, Pacific Flying School, Advance Aviation Training Ltd, Centre for Appropriate Technology and Development, Keshals Business Education Institute, Monfort Boys Town, Service Pro, Pacific Polytechnic, SPA Academy Fiji and Vishan Infotech.

Doctor Lal also says the cost of the new online applications management system was $160,320, the new TSLS website was $11,772, the online escalation complaints management system $75,000 and TSLS Mobile Application $46,800.

He adds all of the systems, website and apps were launched on 28th October last year and was funded by taxpayers’ money.

Doctor Lal says Datec Fiji Limited and Telecom Fiji Ltd were engaged with the development of these systems.

The CEO also says their office relocation to Garden City cost $490,000.

Doctor Lal says TSLS was recognised for its commitment to service excellence for continuous improvements in the business process through the transformational plan by the Fiji Business Excellence Awards.

FEATURE NEWS
Parent company of FIJI Water to get into major agriculture development
The Wonderful Company, the parent company of FIJI Water and one of the world’s biggest and most successful agricultural enterprises, has announced p...
5 hours ago
LATEST NEWS
We have to renovate Matanikila House as we have to move the elderly from Ba Mission Hospital – Tabuya
About $341,835 will be spent by the Ministry of Women, Children and Social Protection on renovations to move the elderly from Ba Mission Hospital to ...
4 hours ago

Repair works underway on Hibiscus Highway - Ro Filipe
Repair works are currently underway on the Hibiscus Highway from Savusavu towards Natuvu as there were some delays in follow-up ...
4 hours ago

FNPF buys 40% of BSP Life’s shares in Rooster Poultry
The Fiji National Provident Fund has bought 40 percent of BSP Life’s shares in Future Farms Pte Limited, which is trading as Rooster ...
4 hours ago

AG says pending cases in court reduced to 16,941 from 26,162
Attorney General and Minister for Justice Siromi Turaga says under the previous government, the number of pending cases in court was alarmingly high, ...
6 hours ago

Ratu Etonia Seru Rokotuinaceva installed as Tui Levuka after 16 years
Ratu Etonia Seru Rokotuinaceva has been traditionally installed as the Nai Taukei Nabukebuke Na Gone Turaga Bale Na Tui Levuka and has taken over ...
7 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
yb
IN DEPTH
Ministry of Home Affairs Talanoa Session on Illicit Drugs and Substance Use Disorders in Fiji
The pervasive threat of illicit drugs has emerged as a pressing concern, rapidly infiltrating and destabilizing our society therefore the Republic of ...
4 days ago

Bainimarama and Qiliho hearing in dismissal of 2 police officers case
Acting Director of Public Prosecutions John Rabuku says he wants the hearing of former Prime Minister Voreqe Bainimarama and suspended Police ...
4 days ago

Sayed-Khaiyum case on alleged payment of Saneem's taxes without proper approval
It is alleged that between the 30th of June, 2022 and the 12th of July, 2022 in Suva, whilst being employed in the civil service as the Acting Prime ...
4 days ago

TOP