Tertiary Education Loans Scheme (TELS)

Tertiary Education Loans Scheme (“TELS”) is a fund intended to provide finance to Fijian students who have qualified for higher education at approved institutions in a TSLB eligible program but are unable to support themselves financially.
 
The Scheme provides student’s zero or low interest loans to eligible Fijians to enable them access to local Higher Education, in line with the Fijian Government’s vision of “Building a Smarter Fiji". TELS funding is restricted for up to the first Bachelor's Degree.

For the new financial year (1 August 2020-31 July 2021), only a maximum of 4000 students will be funded under the various TELS SchemesThe quotas are as follows:
  • All other TELS categories - 3000
  • TELS for Technical College of Fiji Students -1000
Programs not Funded under TELS for 2021
The following are not funded under any of the TELS Schemes:
  • Overseas Studies;
  • Foundation Studies;
  • Unclassified/Undergraduate Programs;
  • Short Courses;
  • Bachelor of Medicine and Bachelor of Surgery (MBBS);
  • Bachelor or Oral Health;
  • Bachelor of Oral Health and Dental Surgery;
  • Programs not attracting sufficient cross credits for the next level of studies in the same program. This includes but is not limited to Pacific TAFE programs (Early Childhood program offered by Pacific TAFE is eligible for TELS funding);
  • Professional Accreditation Courses e.g. FIA, CPA, CISCO etc.;
  • Post Graduate Qualifications;
  • Pilot Training
  • Upgrade of qualification;
  • Any programs or institutions not listed in the drop down menu of the TSLB Online Application System; and
  • Programs not accredited/endorsed by local professional accreditation bodies/agencies.
Eligible Higher Education Institutions for TELS
  1. Fiji National University(“FNU”).
  2. The University of the South Pacific(“USP”).
  3. University of Fiji (“UOF”).
  4. Sangam College of Nursing and Health Care Education (SIT);
  5. Fulton Adventist University College (FAUC).
  6. Corpus Christi Teachers College (CCTC).
  7. Technical Colleges of Fiji (administered by FNU).
  8. Centre for Applied Technology and Development(“CATD”).
Categories of Loan Scheme Available for 2021
  1. Tertiary Education Loans Scheme for New Students
  2. Tertiary Education Loans Scheme for Existing Tertiary Students
  3. Tertiary Education Loans Scheme for Technical College of Fiji (Administered by Fiji National University)
  4. Tertiary Education Loans Scheme for Private Sector Employee
  5. Tertiary Education Loans Scheme for Public Sector Employee
  6. Tertiary Education Loans Scheme for Accommodation Support Scheme (ASS)
  7. Tertiary Education Loans Scheme for Students Completing Year 12 in 2017 or thereafter - FNU Engineering Programs Only
Interest Rates
Applicable interest rates on all TELS borrowing is dependent on the combined parents/guardians/self-annual income of the applicant. The current interest rates for borrowing under TELS are 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

 
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 are to be made to Fiji Revenue and Customs Services.

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TELS Terms and Conditions
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