The Tertiary Scholarships and Loans Service Board says it welcomes stringent measures for bonding as announced in the 2024-2025 Budget announced in Parliament this morning.

Board chairperson Ro Teimumu Kepa said the increase of bonding period for overseas students to 2.5 times the duration of study will ensure equitable return on investment.

“The penalty of 50% on the unserved bond period will ensure that maximum return on the investment is obtained by ensuring graduates serve the country,” she said.

“Further, by granting only two probations instead of 3 for failing to maintain the required GPA and pass rate for respective schemes after which they will be suspended for one academic term will ensure students take their study with more seriousness and improve the pass and completion rate.”

Ro Teimumu said their allocation for the 2024-2025 financial year being increased from $148.2 million to $150.5 million was “a resonance from the Coalition Government of its unwavering, escalating and innovative investments in tertiary education.”

She also lauded as a “big and bold step”, the awarding in total of 10,830 scholarships, study loans and grants for the 2024-2025 financial year, which included both the introduction of new schemes and value adding to existing schemes.

Ro Teimumu also acknowledged that 9,940 continuing students would be funded.