The new Tertiary Scholarship and Tertiary Education Loan Scheme programs which will see scholarships being awarded to hundreds and tuition loans to thousands of Fijian students along with living allowances will be available soon as the members of the Board have been appointed.
The Chairman of the Tertiary Scholarship and Loans Board Dixon Seeto said the board members have had a couple of meetings on the scheme and are overseeing all scholarships and loan programs which are currently being reorganized into one overall scheme.
Seeto said more details on the scheme and the application procedures will be released from tomorrow.
The other board members are the Vice Chancellors of the University of the South Pacific Professor Rajesh Chandra, Fiji National University’s Dr Ganesh Chand and University of Fiji’s Acting Vice Chancellor Professor Chandra Dulare and the Permanent Secretary of the Ministry of Education Dr Brij Lal.
According to a government statement the new independent board will administer the new scholarship and loan scheme efficiently, transparently and with fairness.
The Prime Minister Commodore Voreqe Bainimarama had announced in the 2014 National budget address that the Tertiary Education Loan Scheme will cover up to the full cost of tuition and will not have to be repaid until after a student has graduated and received employment.
Fijians from families that earn less than $25,000 a year will pay no interest on these loans.
Those from families that earn between $25,000 and $50,000 a year will pay an interest rate of 0.5%, those from families that earn between $50,000 and $100,000 will pay an interest rate of 1%, and those from families that earn more than $100,000 will pay an interest rate of 2%.
For the first time ever, the government has also allocated certain courses for which full tertiary scholarships will be granted to the top 600 school leavers.
Commodore Bainimarama said this will act as a powerful incentive for students to take their studies seriously.
Allowances will also be available to cover the cost of living expenses for students from lower income families.
This new program is available to all Fijians and will replace the current iTaukei, Multi-Ethnic and PSC scholarships.
Those students who are currently on an iTaukei, Multi-Ethnic and PSC scholarship will not be affected.
$26 million will go to continue to support these programs.
$52.5 million has been allocated to the Scheme program.
Story by: Sofaia Koroitanoa
