Important Announcement From HESLB To All Loan Applicants We would like to clarify the incorrect information on the loan placement of higher education students that have been circulated online since yesterday, October 23, 2021. General Description: No student is scheduled for a loan of TZS 2,750 for the academic year 2021/2022. Of the 45,095 first-year students who have been loaned out so far, the student with the minimum loan amount is TZS 2,099,500 and the maximum student is TZS 6,431,500;
Loan planning takes into account the needs of students and priority is given to applicants, orphans, the disabled, those funded in secondary education and those from poor households who have applied for a loan correctly and obtained admission; Lumpsum allocations for credit to beneficiaries take into account the applicant’s need and the individual course course requirements.
The beneficiary may be allocated one or more categories between
(i) Food and Accommodation,
(ii) Training Fees,
(iii) Practical Training,
(iv) Special Needs of Faculties
(v) Books and Literature,
and (vi) Research.
Thus, the beneficiary is categorized according to his or her need and which are in the course of his or her admission; In terms of Meals and Accommodation payments, currently, each beneficiary is paid TZS 8,500 per day and is paid in four installments per academic year and on average per TZS 510,000; Regarding the number of first-year beneficiaries, to date a total of 45,095 new beneficiaries have been allocated loans in two phases and the third phase expected to be released on October 25, 2021 will have at least 12,000 new beneficiaries; In addition, for students who are dissatisfied with the current rate, an appeal window will open in early November, 2021.
This window is an opportunity for students to submit applications for additional credit. Conclusion We call on student loan beneficiaries to continue tracking credit information through their specific accounts known as SIPA. In addition, for college students, contact the Credit Officers to understand the schedules of HESLB officers who will be coming to the colleges to meet with students and clarify various issues pertaining to loans.
Issued by: Abdul-Razaq Badru,
October 24, 2021