TSLS Reinstates Penalty for Bond Non-Compliance

The Tertiary Scholarships and Loans Service (TSLS) has reinstated penalties for graduates failing to fulfill their required bond service.

Speaking at a handover ceremony in Suva, CEO Hasmukh Lal stated the penalties, ranging from a minimum of 10% to a maximum of 50%, are designed to ensure a maximum return on investment and encourage graduates to provide the required service to the country.

Graduates who do not wish to complete their bond service must repay the remaining balance with penalties and can arrange for their overseas employers to assist with full payment.

For students on overseas scholarships, the bond service requirement has been increased from 1.5 times the duration of study to 2.5 times.

Mr. Lal emphasized that defaulters who have gone overseas and failed to honor their arrangements will face arrival alerts and will not be allowed to leave Fiji until their full payments are cleared.

The changes, introduced by the Government, aim to retain critical skill sets within the country and address issues of bond repayment compliance.