HESLB releases first batch of loan beneficiaries

Dar es Salaam. The Higher Education Students' Loans Board (HESLB) has announced the first batch of university students who were allocated with loans for 2024/25 academic year.

According to the board’s executive director, Dr Bill Kiwia, the list contains 21,509 students who will receive loans worth Sh70.78 billion.

The list, announced on Saturday, September 28, 2024, covers first-year students pursuing undergraduate degrees, students enrolled in the Law School for practical training, and Master's degree students.

Dr Kiwia said students can access detailed information about their loan allocations through the accounts they used to apply for the loans, known as the Student’s Individual Permanent Account (Sipa).

“We have started releasing loan allocation information for all groups, including those allocated loans and those whose applications are still being processed. Each applicant can access their information through the same account they used to apply for the loan,” said Dr Kiwia, adding that there is no need to visit HESLB offices.

He said the allocation of loans for diploma and PhD students is still ongoing.

According to him, HESLB has already begun preparing payments for both new and continuing students who are loan beneficiaries, with the aim of ensuring timely disbursement of funds to universities.

Dr Kiwia also highlighted that a total of 245,799 students are expected to benefit from the government’s Sh787 billion loan allocation for the 2024/2025 academic year. Of this, more than Sh284.8 billion has been set aside for over 88,000 first-year students.

“The budget for this year has increased by Sh38 billion, equivalent to a 5.1 percent rise, compared to the Sh749.4 billion allocated in the 2023/2024 academic year,” he said.

The board also said the minimum loan amount per individual beneficiary has been raised from Sh2.7 million last year to Sh3.0 million this year.

Dr Kiwia reminded universities that have not yet submitted the exam results of continuing student beneficiaries to do so promptly, to enable the HESLB to process payments for students who have passed and are continuing with their studies.

“There are a few universities that have not submitted the results. We have already reminded them, and we urge them to expedite the submission so that we can finalise the payments for eligible students,” said Dr Kiwia.

The second list of students allocated loans for the 2024/2025 academic year is expected to be announced next week, he said, adding that the announcement will include more students who have met the criteria for loan allocation.

The release was welcomed by the Tanzania Higher Learning Institutions Students Organisation (Tahliso) which commended the board for early release.

“The board has started well and we commend it because delays have been one of the complaints by many students,” said Tahliso president Zaynab Kitima.

“We also commend the board for raising the minimum amount. It’s not enough but has reduced the burden to a certain level,” she added.