Working Committee established to determine the best way forward to plan the proposed debt write-off under TSLS – Prof.Prasad

A Working Committee has been established to evaluate and discuss relevant policies and existing policies to determine the best way forward to plan the proposed debt write off under the Tertiary Scholarship and Loans Scheme.

Deputy Prime Minister and Minister for Finance Professor Biman Prasad highlighted this while answering a question by FijiFirst MP Shalen Kumar on whether the TSLS Board will continue to receive applications for Toppers and issue scholarships.

Professor Prasad says the committee is in the process of facilitating the necessary legislative amendments to existing provisions within the TSLS Act in consultation with the Solicitor General’s Office.

The Deputy PM further says plans will have to go as per the Financial Management Act and it will be submitted to the cabinet in April.

Professor Prasad adds the Working Committee is also mindful of the subsequent impact the policy amendment will have on the labour market, given that they have to ensure that students are able to secure employment after their studies.

He highlighted that the existing schemes for scholarships and loan will continue in the current financial year which ends on 31st July and TSLS will continue to offer loans and scholarship as approved.

Professor Prasad adds the TSLS loan repayments have been put on hold as the coalition government prepares to forgive more than $600 million in debt.

He says as of 28th February 2023, $28.1 million has been recovered.