HESLB Repayments of Loan & Repayment Procedure: Check Detailed information about How to pay HESLB !! We have provided essential details regarding How to pay HESLB, so what are you waiting for? Go ahead as soon as possible and get How to pay HESLB details.
Repay Your Loan
- The Higher Education Students’ Loans Board (HESLB) is tasked by its establishing Act, under section 7 (i), to recover all due loans extended to former students since July 1994 so that the same money can be used to lend other students, thus rendering the Loan scheme sustainable and long lasting.
- Loans are repaid following expiry of two-year grace period upon successful completion of studies or upon earlier termination of studies for whatsoever reason
- For commencement of loan repayment, a Loan Beneficiary will have to be availed with a loan statement after submission of the following particulars to the Board through email: [email protected]
- Full names as used during study
- Higher Learning Institution attended
- Year of Entry and Year of Exit
- Postal and Physical address
- Mobile Tel. No.
- Employment status
- Loans are repaid at a rate of not less than 15% of monthly income/salary of loan beneficiaries and Tzs. 100,000.00 for self-employed loan beneficiaries.
LOAN REPAYMENT MODES
All payments are payable to Higher Education Students’ Loans Board, by crossed cheque, Bankers direct transfer/standing order/EFT or CASH DEPOSIT to HESLB collection A/C.
COMPLETION OF LOAN REPAYMENT
Upon completion of loan repayment, kindly seek clearance certificate from HESLB. Please note that only HESLB can confirm your loan repayment status. HESLB shall confirm loan repayment completion by issuing certificate of clearance.
HESLB Repayments of Loan & Repayment Procedure LINKS
The core values which will guide HESLB in achieving its objectives are:
- Commitment and Integrity
Section 6 of the HESLB Act No. 9 of 2004 provides functions of the Board as follows:-
(i) To assume responsibility for the control and management of all loanable funds as vested in the Board.
(ii) To formulate the mechanism for determining eligible students for payment of loans.
(iii) To administer and supervise the whole process of payment and repayment of loans
(iv) To keep the register and other records of students loan beneficiaries under the Board
(v) To advise the Minister on matters of policy and of the law concerning provisions and recovery of loans to students.
(vi) To establish operational links between the Board and higher education institutions with student loan beneficiaries for facilitating a smooth, efficient and effective administration of the loan funds
(vii) To establish operational links with employers of loan beneficiaries for the purpose of facilitating the recovery of the loans granted.
(viii) To establish networking and cooperation links on a mutually beneficial basis with institutions and organizations, be they governmental or non-governmental, local,foreign or international
(ix) To conduct research and maintain a data bank on other local and external scholarships, sponsorships and awards that may be accessed by Tanzanian students in need or in search of opportunities and financial sponsorship or assistance for higher education and/or training.
(x) To ensure the overall efficient and effective implementation of the provisions of the Act and of any such other written law concerning Government loans and
(xi) To perform such other functions as are conferred upon the Board by or under the Act or any other written laws.
Important HESLB Links