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| HESLB allocates Sh 787 billion for University Student Loans in the 2024/2025 Academic Year |
By Charles Mkoka
The Higher Education Students' Loans Board (HESLB) has allocated Sh 787 billion to support university and college students pursuing bachelor's and diploma degrees for the 2024/2025 academic year. The funds will benefit approximately 252,000 students across Tanzania, according to the Director of Planning and Loan Disbursement at HESLB, Dr. Peter Mmari.
Speaking at a workshop in Dar es Salaam, attended by loan officers from universities and colleges, as well as HESLB officials led by Executive Director Dr. Bill Kiwia, Dr. Mmari outlined that 80,000 first-year students are expected to receive loans, while the remaining funds will go to continuing students.
Reflecting on the previous academic year, Dr. Mmari revealed that the board exceeded its initial goal of funding 75,000 students, providing loans to 79,200 students instead—representing a 12% increase.
"These accomplishments highlight the commitment of the Sixth Phase Government to advancing higher education in the country. We are determined to continue supporting more students in their academic journeys," Dr. Mmari emphasized.
In addition to student loans, HESLB introduced a scholarship program for diploma students excelling in science, technology, engineering, and mathematics (STEM) during the 2022/2023 academic year. So far, 1,200 students have benefited from this program.
However, Dr. Mmari acknowledged ongoing challenges, including delays in releasing exam results, universities introducing new programs without notifying the board, and students struggling to complete loan applications correctly, leading some to miss out on funding.
"Many students fail to provide accurate information when applying, which disqualifies them. We are actively educating students on the application process to prevent this. Importantly, those who miss out can still reapply and have a chance to receive loans in future years,” he explained. Dr. Mmari also dispelled the myth that students who miss loans in their first year are ineligible for future consideration.
HESLB Executive Director Dr. Bill Kiwia announced that the workshop would focus on key areas such as improving the ICT system to replace outdated paper-based procedures, enhancing the digital loan repayment portal, and streamlining loan payments through the MUSE system.
These planned reforms aim to make the loan disbursement and repayment process more efficient, benefiting both students and the broader education system.