TSLS and FRCS announces mechanisms for forgiving TELS debt

Tertiary Scholarships and Loans Service together with the Fiji Revenue and Customs Service have announced the students who have studied under various TELS schemes excluding the In-Service Scheme, will be converted to bond agreements.

While graduates who studied on TELS and are currently residing overseas will continue to repay their loans through existing arrangements with FRCS and if for any reason they dis-engage from this arrangement, the pending debts will be recovered from their respective approved guarantors.

This is after the Parliament of Fiji approved forgiving of the Tertiary Education Loans Scheme debt.

They say those TELS-funded graduates, who are now on bond agreements and intend to migrate will be required to pay the amount owed to the government for the remaining period of bond service.

They further say as of 31st July, 2023 students will not be required to pay their debt but must demonstrate their service to the country through paid employment which can be either be in public service or private sector organisation.

Students can obtain a clearance letter from FRCS if they have provided the service.

The Study Loan Agreement of continuing and existing students will be converted to bond agreements under this amendment and the provision of Loan repayment in the Study Loan Agreement for these students is superseded by the change in the TSLS Act.

The Accelerated Repayment Incentive (ARI) will continue to apply to these graduates.

They say the requirement for nominated guarantors for travel clearance will remain for sponsored students who intend to travel abroad for medical, vacation and temporary work purposes.

These students will need to obtain temporary travel clearance from FRCS after a Tuition and Allowance Statement is issued from TSLS.

TELS graduates who have fully or partially repaid their loans will not receive a reimbursement of their payments when the amendment to the Act comes into effect and for those that have partially paid their loans, the remaining amount will be converted into a bond agreement.