Navigating the Suspension of TETFund Foreign Scholarships: Key Insights
TETFund (Tertiary Education Trust Fund) is considering suspending its foreign scholarship program due to financial challenges related to the exchange rate.
The scarcity of foreign exchange has made it difficult for the fund to meet its obligations for foreign tuition and stipends.
Executive Secretary Sonny Echono noted that the current exchange rates significantly increase the cost of scholarships, forcing TETFund to review its disbursement guidelines.
Moreover, the fund has seen issues with some scholars absconding from their studies abroad, adding further strain on the system.
To mitigate these challenges, TETFund is exploring alternative solutions, including providing more training opportunities locally.