HESLB Four Days for loan Applicants To Complete Loan Application Procedures
The Higher Education Students’ Loans Board (HESLB) is a body corporate established under Act No.9 of 2004 (as amended in 2007, 2014 and 2016) with the objective of assisting needy and eligible Tanzania students to access loans and grants for higher education. The main mandates of HESLB include:
- To assist, on a loan basis, needy students who secure admission in accredited higher learning institutions, but who have no economic power to pay for the costs of their education
- To collect due loans from loan beneficiaries and use it as revolving fund to sustain operations of the Board
- To create synergies through establishing strategic partnerships in student financing ecosystem
HESLB Four Days for loan Applicants To Complete Loan Application Procedures, 2021
The Higher Education Student Loans Board (HESLB) has given four days from October 4-7, this year to 2,982 students who applied for loans in 2021/2022 to make adjustments to complete their application procedures.
For detailed information on the adjustment, applicants have been advised to visit their SIPA-Student’s Individual Permanent Account (SIPA) account.
Speaking in an exclusive interview with the Tanzania Broadcasting Corporation (TBC), HESLB Director of Planning and Credit, Dr. Veronica Nyahende said once the reform process is completed, HESLB will start allocating loans to needy students.
“In the application review we have identified 2,982 applicants whose forms are defective. We have given four days, and after the process is completed we will begin the process of arranging loans for qualified and needy students “, said Dr. Nyahende.
According to Dr. Applicants will also be required to visit SIPA accounts to obtain credit information to be allocated by HESLB later this month.
As of September 30, this year, HESLB had received 88,688 applications and among those applications; 85,706 were complete and 2,982 needed to be amended.
Dr. Nyahende added that the Government is fully committed to ensuring that student loan funds are repaid before tertiary institutions start opening from October 25 this year.
In the academic year 2021/2022, the Government has allocated TZS 570 Billion for the loan budget of 162,000 higher education students including 62,000 first year students and 98,000 continuing studies.
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