TZS 570 BILLION BENEFITS 160,000 STUDENTS 2021/22

TZS 570 BILLION BENEFITS 160,000 STUDENTS 2021/22

HESLB was established in accordance with the Act, with the main responsibility of providing loans to needy students and collecting mature loans provided by the Government to higher education students from 1994/1995.

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:

  1. 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
  2. To collect due loans from loan beneficiaries and use it as revolving fund to sustain operations of the Board
  3. To create synergies through establishing strategic partnerships in student financing ecosystem
TZS 570 BILLION BENEFITS 160,000 STUDENTS 2021/22

TZS 570 BILLION BENEFITS 160,000 STUDENTS 2021/22

THE GOVERNMENT through the Higher Education Student Loan Board (HESLB) plans to spend a budget of TZS 570 Billion in 2021/2022 which is expected to benefit more than 160,000 students.

Speaking today (Friday, July 2, 2021) in Dar es Salaam at the launch of the new loan season for the academic year 2021/2022, the Minister of Education, Science and Technology, Prof. Joyce Ndalichako said the amount of money allocated for 2021/2022 has broken the record in 16 years of HESLB’s life.

According to Prof. In my case, out of those 160,000 students, first-year students are expected to be 62,000 while students will grow to 98,000.

“Just steal the secret. Until last month, the loan budget for the year 2021/2022 grew TZS 500 billion. But in his 100 days of leadership as our President, Hon. Mama Samia Suluhu Hassan has added TZS. 70 billion and reach these TZS. 570 billion for the year 2021/2022 equivalent to an increase of TZS. 106 billion (22.8%) ”said Prof. Here I go.

He added that the increase confirms the intention of the Sixth Phase Government under Ms. Samia Suluhu Hassan is to continue to enable more young people to earn money and study to serve their country and urge needy applicants to remain calm, and read instructions and apply correctly to fulfill their dreams.

In the academic year 2020/2021, the Government has allocated and provided TZS 464 billion benefiting a total of 149,398 students. Of these, 55,287 are first-year students and 94,111 are those who are continuing their studies.

In another step, Prof. Ndalichako urged HESLB to continue to provide adequate education to applicants so that they can understand the merits and procedures of applying for a loan correctly and continue to work with various stakeholders in assisting many young people applying for loans.

Speaking at the event held at HESLB offices, HESLB CEO, Abdul-Razaq Badru said they have received instructions and from July 12 this year, HESLB officials will start running loan application programs correctly under the #WeweNdoFuture campaign.

“We are finalizing the process with the leadership of the National Construction Army (JKT) to reach all young people in the 19 camps of JKT from July 12… We will also run these programs through television, radio, social networks and meetings with stakeholders,” said Badru.

Regarding the procedure and timing of the application, Badru said the loan application guide outlining the qualifications and procedure for applying for a loan is available on the HESLB website from today (Friday, July 2, 2021).

“The guide is available on the website from today, July 2 and we advise applicants to read it before applying. In addition, the application process will be open for 53 days from July 9 to August 31, 2021, ”said Badru.

The inaugural meeting was also attended by the Deputy Permanent Secretary of the Ministry of Education, Science and Technology, Prof. James Mdoe and representatives from the Tanzania Postal Corporation (TPC) and the Registration, Insolvency and Trusteeship Agency (RITA) who also cater for loan applicants.

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