NEWS

547 Students Awarded Toppers Scholarship In 2022

The Tertiary Scholarships and Loans Services has confirmed that 547 students will be awarded the National Toppers Scheme (NTS) this year.
13 Apr 2022 12:07
547 Students Awarded Toppers Scholarship In 2022

The Tertiary Scholar­ships and Loans Ser­vices has confirmed that 547 students will be awarded the National Top­pers Scheme (NTS) this year.

Since its inception in 2014, a total of 4565 students had been awarded the NTS scholarship while 165 stu­dents had been awarded the scholarship scheme for stu­dents with Special Needs.

Students who studied un­der the scholarship offered by the Fijian Government were only required to serve their agreed bond with the TSLS.

However, the scheme is dif­ferent for students who are studying under Tertiary Education Loan Scheme (TELS) which includes a total of 53,115 students be­cause they would have to pay their loan back in full once they are employed.

Despite this, the Govern­ment introduced an Accel­erated Repayment Incentive (ARI) in the 2018-2019 Na­tional Budget to help ease off the burden of paying back loans for students.

“The early loan repayments are now highly incentivised, giving TELS recipients the opportunity to have a signif­icant portion of study loan paid off by Government,” a written response from the organisation stated.

“The earlier the loan is paid off, the higher the discount rate on the loan amount. For example, the discount rate can be 50 per cent, 25 per cent or 10 per cent based on early repayment of their to­tal loan amount.

“However, because of the pandemic that resulted in job losses or part time work, the repayment period for discount eligibility will ex­clude Years 2020, 2021 and 2022.”

Paying off debt

Students whose debts are less than $20,000 would be eligible for a discount of 50 per cent if they pay off their debt within two years of their employment while 25 per cent would be for two to four years of repayment and 10 per cent discount for four to six years of repayments.

Students whose debts are between $20,000 and $49,000 would qualify for a discount of 50 per cent within three years of repayment while 25 per cent discount would be for three to six years re­payments and 10 per cent discount are for repayments between six to eight years.

If students do not meet the timeframe given, then they must pay their full loan amount.

Feedback: josefa.babitu@fijisun.com.fj



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