Banks show interest in repaying student loans – FBC News

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FijiFirst General Secretary Aiyaz Sayed-Khaiyum revealed that a number of banks are interested in paying off 50% of student debt.

These are debts owed by students studying under the Higher Education Loans Service.

Sayed-Khaiyum was answering questions about a number of political parties which suggest that if they come to power they will make higher education free.

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Fiji’s First Secretary General, who is also Minister of Economy, asked these political parties if their plan was viable.

He says it seems politicians only say that to get votes.

Sayed-Khaiyum says the current model is sustainable.

“The FijiFirst government model is a sustainable and built-in model of that. For example, if you repay 50% of your loan in about three years, we cancel the remaining 50%. It’s still sustainable. Several banks now want to participate in repaying 50% of the debt so that students no longer have to repay the remaining 50%.

Sayed-Khaiyum says politicians don’t dissect all information about TELS.

He says the government has now allowed people to go abroad and work as long as they have a guarantee.

He adds that students who are now abroad are repaying their loans.

According to Sayed-Khaiyum, the current model is also concerned about future generations.

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