Students can get TELS loan if guarantor earns $10,000 or more

Students who wish to get a student loan from the Tertiary Education Loan Scheme must find a guarantor who earns $10,000 or more.

TELS CEO Bijay Kumar said the previous threshold for guarantors was $15,000 but this was reduced by the Minister for Education last year as most of the parents were earning less than $15,000.

Kumar added that students who have a placement in technical colleges and universities will have to meet their checklist.

Kumar said once the students meet the checklist, they will then sign an affidavit to show that they will repay the government at the end of their study.

He added that students will not get the loan if they cannot find a guarantor who earns $10,000 or more.