TSLS and FRCS Signs MOU to Strengthen the Loan Recovery Process
JOINT PRESS RELEASE
10 June 2022 – The Tertiary Scholarships and Loans Service (TSLS) and the Fiji Revenue and Customs Service (FRCS) signed a Memorandum of Understanding (MOU) today to facilitate the loan recovery processes for graduate TELS (Tertiary Education Loans Scheme) recipients who are employed. Both TSLS and FRCS wish to strengthen and improve the current student loan recovery process.
TSLS is mandated under its Act to implement transparent and accountable management of government funding provided for tertiary scholarships and loans. As per the MOU, TSLS will be responsible for collecting student data and providing FRCS with the list of student data for verification processes.
TSLS CEO Dr. Hasmukh Lal said the MOU signing was a significant achievement for both organisations in strengthening partnership and collaboration around loan recovery through joint enforcement, compliance, and monitoring.
“Both TSLS and FRCS intend to carry their responsibilities outlined in this MOU in a spirit of cooperation and willingness with clear standard operating procedure underpinned with demarcated responsibilities.,” he said.
“The purpose of this collaboration is to provide ease and convenience to the TELS funded students in terms of generating loan statements, acquiring travel release and repayment mechanisms.”
FRCS CEO Mr. Mark Dixon welcomed the partnership, highlighting that the signing of the MOU coincided well with the implementation of student loan services on the Taxpayer Online Service (TPOS) early this week.
According to Mr. Dixon, the introduction of a student loan online facility through TPOS will provide students with a convenient way to manage their loan or scholarship affairs.
“The student loan online services will also strengthen debt collection and reduction of student loan arrears, as all key data and information related to student loans will be available through TPOS and can be easily accessed reducing the need to visit FRCS or TSLS Offices,” he said.
“The partnership between the two organisations to collaboratively work together to share information will facilitate better service delivery, support better decision making and, enhance the ease of access to services.
“Our online service also promotes the Fijian Government’s efforts to modernise and digitize its services to offer an enhanced customer service experience,” Mr. Dixon said.
Through the student online service, students will be able to access their loan statements, send notifications on employment, calculate eligibility for accelerated repayment incentives and assign tax agents to perform tasks on their behalf. In addition, students and guarantors can make repayments and apply for temporary and permanent release to travel abroad.
To access student online services, it is mandatory to sign in for TPOS which can be accessed through the FRCS website www.frcs.org.fj.
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