Change in TELS guidelines

There is some good news for students who are intending to pursue tertiary studies as they will be considered for the Tertiary Education Loans Scheme if they get accepted by any approved Tertiary Institution for a full time course.

This is the word from the Chairman of the Tertiary Scholarship and Loans Board, Dixon Seeto who said there is a slight change in their guidelines.

All students who have completed Form 7 or Foundation Studies last year can take loans under this scheme to cover their University Tuition fees.

Loan repayment will be at 20% of the gross salary when the graduate starts working.

The loans are interest-free for students from families with parental income of up to $25,000 per annum.

The loans will attract an interest rate of 0.5% for students from joint parental incomes of between $25,000 and $50,000.

An interest rate of 1% will apply for those from families with incomes between $50,000 and $100,000, 2% interest rate is for those from families with incomes over $100,000.