Tertiary Education Loans and Scholarship (TELS) repayment
13 March, 2019, 3:49 am
STUDENTS under the State’s Tertiary Education Loans and Scholarship (TELS) program do not start paying their debts after graduation.
This was clarified by Economy Minister Aiyaz Sayed-Khaiyum on the online consultation for the 2019/2020 National Budget.
He said it was only when the students began paid employment that they started their TELS repayment.
Mr Sayed-Khaiyum said Government considered graduates income level for their TELS repayment as the annual repayment was 20 per cent of what they earned.
“The accelerated repayment initiative announced by Government in the 2018/2019 Budget offers an opportunity to benefit from the generous discounts if you do early repayments,” he said.
Mr Sayed-Khaiyum said it was a good deal and he also urged students under the TELS program to look at the various options for early repayment.
This information is available on the Ministry of Economy website and the TSL websites.