TERTIARY EDUCATION LOANS SCHEME (TELS)

Tertiary Education Loans Scheme (“TELS”) is a scheme intended to provide finance to Fijians who qualify for higher education at any approved institutions, but are unable to support themselves financially.
 
The Scheme provides student loans to eligible Fijians to enable them reliaze their dreams of higher education in line with the Fijians Governemnt's vision of  “Building a Smarter Fiji”.

TELS is available only for studies at a locally approved Higher Education Institutions up to the first Bachelor's Degree.

The following are not funded under any of the TELS Schemes:
  • Overseas Studies;
  • Foundation Studies;
  • Unclassified/Undergraduate Programs;
  • Short Courses;
  • Programs not attracting sufficient cross credits for the next level of studies in the same program;
  • Professional Accreditation Courses e.g FIA, CPA, CISCO etc; and
  • Post Graduate Qualification
 
CATEGORIES OF LOAN SCHEME
 
  1. TELS for New Students
  2. TELS for Existing Tertiary Students
  3. TELS –Technical College of Fiji (Administered by Fiji National University)
  4. TELS - Private Sector Employee
  5. TELS – Public Sector Employee
  6. TELS – Pilot Training
  7. TELS - Accommodation Loans Scheme (ALS)
  8. TELS - for Graduates Seeeking to upgrade to MBBS
  9. TELS - For Students Completing Year 12 in 2017 or thereafter - FNU Engineering Programs Only
 Qualifying Institutions
  • University of Fiji
  • Fiji National University
  • The University of the South Pacific
  • Corpus Christi Teachers College
  • Fulton University College
  • Sangam Institute of Nursing
  • Centre for Applied Technology and  Development
  • Technical College of Fiji (Administered by Fiji National University)
  • Pacific Flying School
  • Advanced Aviation Training 
Interest Rates
The current interest rate for funding your studies under TELS is as follows:
 
Combined Family Income per annum
(FJD)
Interest Rate
(%)
Up to $25,000  0
$25001-$50,000 0.5
$50,001-$100,000 1
Above  $100,000 2

 
Applicants must submit the following relevant evidence of parental/guardian income.
 
Student Category Income Evidence Required
Single Students                                   For Working Parents
 
  • Recent Salary Slip/Salary Confirmation Letter from Employer
 
  • FNPF Statement
 
  • Self-Employment-Business etc
 
  • Most recent FRCS Tax Assessment-Business
 
  • Statutory declaration  witnessed by JP etc
 
  • For Unemployment Parents
 
  • Statutory declaration written and signed by the parents and witnessed by JP etc
 
Working Single Students
  • Recent Payslip
 
  • FNPF Statement (not Statement of Account) showing contribution by the current employer
 
  • Evidnce of Parents/Guardians Income
 
Working Married Students
  • Recent Payslip
 
  • FNPF Statement (not Statement of Account) showing contribution by the current employer
 
  • Evidence of Spouse Income-Payslip

* Students submitting the Guardians income details must also disclose parents details.

TELS Loan Repayment
 

Under the new policy announced in the 2018/2019 budget, students do not necessarily have to pay back the full amount borrowed for their studies.

Students can avoid paying the full amount that they have borrowed by taking advantage of the Fijian Government's new TELS Accelerated Repayment Incentive (“ARI”) as announced in the 2018/2019 national budget.

 

TELS Accelerated Repayment Incentive is a heavily incentivized repayment scheme for TELS recipients who settle their loans early. Depending on the total amount owed, the length of time taken post-graduation and getting into paid employment, the scheme provides an opportunity for TELS recipients to have a significant portion of their student debt waived off by the Fijian Government.

 

TELS Accelerated Repayment Incentives are set in three steps, affording 10%, 25% and 50% discounts on the amount of the loan. ARI steps are determined based on the student’s total debt and how quickly their discounted portion of the loan is settled after their first day of employment post-graduation.

For example, if you are a new graduate with a student debt of less than $20,000 and settle 50% of the loan balance in less than 2 years, you will be entitled to a waiver of 50% (i.e. $10,000).

 

The following rates of repayments and discounts apply:

 
Total Debt Level (Upon Graduation) Discount applicable at various repayment periods
50% 25% 10%
Less than $20,000 < 2 years 2-4 years 4-6 years
$20,000-$49,999 < 3 years 3-6 years 6-8 years
$50,000-$99,999 < 4 years 4-8 years 8-10 years
$100,000 plus < 5 years 5-10 years 10-12 years

All repayments is to be made to Fiji Revenue and Customs Services.

NOTIFICATION OF THE LOANS SCHEME

Towards the end of each High School academic year, the Board will advertise in the local print dailies and invite the students to apply for the Loans Scheme.  
Students wishing to commence their higher education from a particular term must apply in advance and get into the bond agreement before the commencement of a new academic term.

Applications received during the academic terms will be considered for the following academic term.

How To Apply (For All TELS Scheme)
  1. Scan and get all the required documents ready before starting the process of applying online in the pdf, png, or jpg format. 
  2. Visit www.tslb.com.fj and register for TSLB online application. Applicants cannot apply online unless registered first.
  3. Once registered fill in the appropriate information.
  4. Upload all the required documents. 
  5. Submit the online application.
  6. Applicants for NTS need not fill another TELS application as all unsuccessful applications for NTS will be considered for TELS.
Applicants who are yet to received their Year 13/Year 12 or Foundation Studues results and the offer letter from the University must still apply before the closing dates. These documents can be uploaded later.  However, no applications will be processed unless the Year 13 results and offer letters are uploaded.

SUBMITTING A COMPLETED APPLICATION PACKAGE DOES NOT GUARANTEE APPROVAL.


ASSESSMENT & NOTIFICATION OF AWARDS
 
  • TSLB shall be responsible for assessment of applications against the set criteria.
  • TSLB may seek any further information to substantiate claims made by the applicant.
  • All applicants are responsible for gaining acceptance into institutions. Fee structures from the institution must accompany each application form.
  • TELS will only be awarded to institutions approved by the Fijian Government, and programs accredited by a professional educational body.
  •  All TELS application will go through an extensive review and TSLB’s scholarship decision shall be final and cannot be appealed.
  • Official indication of being granted an award is the receipt of the Confirmation of the award letter from the Chairperson/Chief Executive Officers or any authorised officer of TSLB.
 
TELS Acceptance Deadline
  • All TELS award offered must be accepted within 14 days after the date posted on the award notification (email or letter).
  • All awards not accepted by this deadline will be cancelled.
  • To accept the awards students must sign and return the offer letter to TSLB together with the bond forms.
 
Apply Online Now
TELS Terms and Conditions