The Fijian Government has allocated $1.2 billion for TELS and Toppers scholarships since 2014 which has benefitted over 53,000 students.
While speaking in Serua, Prime Minister Voreqe Bainimarama says these students have gone on to become doctors, nurses, civil servants, scientists, and leaders and they are proud to have played a part in helping these talented Fijians realize their dreams.
Bainimarama says this year, they have committed funding for an additional 8,609 new intakes which will push the total number of students assisted to beyond 60,000 within the first nine years of establishing the programme.
He says every student has earned their way to merit-based support for their education. The Prime Minister also says there is a lie being spread in our communities that TELS interest rates is 20%.
He says the highest interest rate for TELS is two percent and that is in cases where the combined family income is above $100,000.
Bainimarama says students with combined family income of up to $25,000 enjoy a zero interest loan, those with combined family income of $25,001 to $50,000 have 0.5% interest loan while those in the threshold of $50,001 to $100,000 have 1% interest on the loan.
He adds they have also funded 5,000 students through TVET courses.
