|
|
Studies in Fiji |
Studies Abroad |
|
Eligibility |
• Fiji Citizen • Secured admission to a recognized College /Institute/ university • Education after form-VI (class XII) For Diploma courses, Degree courses and Post Graduate courses |
• Fiji national • Secured admission to professional /technical courses abroad through entrance/merit based selection process. (Letter from Institution and fee details is required) |
|
Coverage of expenses |
• College/University Admission/ Tuition Fees, • Examination / Library / Laboratory fee. • Hostel/Boarding and other Fees • Purchase of books /equipments/ instruments/ uniforms, • Personal Computers/ Laptops ( supported by Institution bills / receipts)
|
• Admission / Tuition Fees to College/ University • Hostel / Mess charges, • Examination / Library / Laboratory fee • Purchase of books / equipments / instruments / uniforms, • Purchase of computer/ Laptop • One way Travel expenses / passage money • Any other expense required to complete the course e.g. study tour, project work, thesis, etc. (supported by Institution bills / receipts)
|
|
Maximum amount of loan |
Need based finance subject to maximum of following: Diploma courses - F$ 10,000/- Graduate courses- F$ 25,000/- PG courses - F$ 20,000/- (subject to repayment capacity of parents) |
Maximum F$ 75,000/- |
|
Margin |
10% |
10% |
|
Rate of Interest |
9% p.a at present (variable) |
9% p.a at present (variable) |
|
Repayment Period |
For courses of 1 ½ year duration - Maximum of 24 equated installments, and repayment to commence after 6 months from the date of first disbursement.
For courses is for a period exceeding one and half year (i.e. 2/3 years) - The loan to be repaid in maximum of 48 equated installments. Repayment to commence after 12 months from the date of first disbursement. |
Maximum of 72 equated installments and repayment to commence after 12 months from the date of first disbursement. |
|
Repayment Capacity |
Parents income will be reckoned for calculating repayment capacity and total deductions from the income including the proposed equated installment should not exceed 60% of total income. |
Total deductions from the income including the proposed equated installment should not exceed 60% of total income. |
|
Security |
Loan is to be secured by liquid securities viz. Term Deposits/Life Policies or by way of first registered mortgage of property. |
Loan is to be secured by liquid securities viz. Term Deposits/Life Policies or by way of first registered mortgage of property. |