Graduates Overseas To Continue Loan Repayment
“Students or former students who have migrated overseas must fulfill their repayment obligations until the entire loan amount is cleared,” Mr Lal said.
Friday 07 July 2023 | 14:45
(Left) Tertiary Scholarship and Loans Service (TSLS) chief executive officer Hasmukh Lal
Graduates who have benefitted from the Tertiary Education Loan Scheme (TELS) and are residing overseas will be required to continue repaying their loans according to the existing arrangements with the Fiji Revenue and Customs Service (FRCS).
Tertiary Scholarship and Loans Service (TSLS) chief executive officer Hasmukh Lal clarified this yesterday.
“Students or former students who have migrated overseas must fulfill their repayment obligations until the entire loan amount is cleared,” Mr Lal said.
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In the event that a student or former student residing overseas defaults on loan repayment, the responsibility for repayment will shift to their guarantors until the outstanding loan is completely paid off.
“For TELS-funded graduates who plan to migrate before the completion of their bond service period, they will be required to repay the remaining amount owed to the government for the remaining duration of the bond service.”
Regarding graduates who have made partial payments towards their loans, the remaining amount will be converted into bond service.
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