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.
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