Student loans worth 320bn/- set aside for 2013/2014 - HESLB

BY THE GUARDIAN REPORTER

15th November 2013

Dr Shukuru Kawambwa, Minister for Education and Vocational Training

The higher Education Students' Loans Board (HESLB) has set aside 320bn/- to furnish higher learning students’ loans for 2013/2014.

HESLB has also announced that it expects to collect from the loan beneficiaries some 20bn/- before the end of this year, the same amount it did last year.

Minister for Education and Vocational Training Dr Shukuru Kawambwa made the announcement recently in Arusha when addressing the 2013 Annual General Meeting of the Association of African Higher Education Financing Agencies (AAHEFA).
“This has been made possible thanks to the use of improved loan collection systems,” the minister said.
“As of now, 61 percent of the loans have been recovered,” Dr Kawambwa said noting that because the same amount is used to fund other students then the improved loan collection means, “…larger number of students can secure loans from the board.”
Other than ‘new improved loan collection systems’ the minister also associated the improved loan collection to massive awareness campaigns that preached the value of loan repayment for the benefit of new students.

On the other hand, Dr Kawambwa called on financing agencies to come up with effective mechanisms to ensure that all loans are recovered for the benefit of other students.

AAHEFA President, Charles Ringera said the meeting served as a platform to share information and experiences in loan provision and collection in a bid to increase students’ access to higher education within and outside Africa. 

SOURCE: THE GUARDIAN