Government reviews TELS repayment methodology
13 March, 2018, 3:13 pm
Update: 3:13PM FIJI’S Attorney General and Minister for Education says they are reviewing the methodology of repayments for students under the Tertiary Education Loan Scheme (TELS).
Mr Sayed-Khaiyum said under this review, students who earned less than $15,000 a year would not make any repayments until they started earning above $15,000.
“So anybody that have finished their studies and they’ve got employment and they are earning less than $15,000 a year, they don’t do any repayments until they start earning $15,000,” he said.
“That’s the benchmark we currently assessing. So $15,000 to $20,000, they will pay a rate, say 10 per cent, and at from $20,000 to $30,000, they will pay a rate of 15 per cent.”
Mr Sayed-Khaiyum made this statement in Parliament today while responding to an oral question by National Federation Party (NFP) leader and Opposition MP Professor Biman Prasad on whether or not the Government would reduce the rate of repayment of TELS for the students from 20 per cent of gross salary.