11 Steps To Repay HESLB Loan For Beneficiaries

11 Steps To Repay HESLB Loan For Beneficiaries

11 Steps To Repay HESLB Loan For Beneficiaries. The Higher Education Students Loans Board (HESLB) is tasked by its establishing Act, under Section 7(i) to recover all the due loans extended for former students since July 1994 so that the same money can be used to lend other students, thus rendering the loans scheme sustainable and ensuring a revolving fund.

11 Steps To Repay HESLB Loan For Beneficiaries

Employers:

  1. Submit list of graduate employees with diploma or degree within 28 days from the date on which such person is employed. Use the format below:
  2. Effect 15% deductions from basic salary for billed beneficiaries in payroll
  3. Obtain from HESLB  the employer control number and effect the monthly remittances through GePG
  4. Submit the proof of payment and deduction schedules to HESLB before 15th date of the subsequent month

Employed beneficiary:

  1. Inform your employer on your student loan and submit required details
  2. Track your loan repayment status to completion
  3. Request for loan clearance from HESLB
  4. Repay your loan on time to avoid other charges

Self-employed beneficiary and diaspora:

  1. Request for your loan statement
  2. Use the control number indicated in your statement to make payment
  3. Repay atleast TZS. 100,000 every month to furnish your loan
  4. Track your loan repayment status to completion
  5. Request for loan clearance from HESLB
  6. Repay your loan on time to avoid other charges
11 Steps To Repay HESLB Loan For Beneficiaries
11 STEPS TO REPAY HESLB LOAN FOR BENEFICIARIES

Beneficiary Self Registration

Welcome to HESLB Online Repayment Portal, In order to get your loan statement with control number for payment, you are requested to register using your form four index number that was used in disbursement of funds while at college.

If you have forgotten the number, you can proceed by clicking ‘Forgotten F4 Indexno’ and follow instructions.

Inquiries:  [email protected] or  0736 66 55 33 (WhatsApp)

Charges:

  • 10% of principal loan charged as Penalty for delayed repayments (after grace period) – Charged once
  • 1% of principal amount as Loan Administration Fee – Charged once
  • 6% of outstanding principal loan as Value Retention Fee – Charged annually
  • Stipulated charges for defaulting employers e.g delayed remittances(after 15th of the following month)

NOTE:

  • All payments are done through GePG by using control number
  • The control number remains unchanged
  • Repaying your loan on time saves you from penalties and accrued charges
  • Request for clearance from HESLB upon completion of your loan

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