The government intends to invest TZS 570 billion in 2021/2022 through the Higher Education Student Loan Board (HESLB), which will assist more than 160,000 students.
The Minister of Education, Science, and Technology, Prof. Joyce Ndalichako, announced today (Friday, July 2, 2021) in Dar es Salaam, at the beginning of the new loan season for the academic year 2021/2022, that the amount of money provided for 2021/2022 has surpassed the record in the HESLB’s 16-year history.
According to Prof., 62,000 of those 160,000 students are expected to be first-year students, with the total number of students increasing to 98,000.
“All you have to do is steal the secret. Until last month, the loan budget for the fiscal year 2021/2022 had increased by TZS 500 billion. However, in his first 100 days as President, Hon. Mama Samia Suluhu Hassan has added TZS. 70 billion, bringing the total to TZS. 570 billion for the fiscal year 2021/2022, an increase of TZS. 106 billion (22.8 percent), stated Prof. Ndalichako.
She added that the increase confirms the intention of the Sixth Phase Government, led by Ms. Samia Suluhu Hassan, to continue to enable more young people to earn money and study in order to serve their country, and she encourages needy applicants to stay calm, read instructions, and apply correctly in order to realize their dreams.
The government has allocated and supplied TZS 464 billion for the academic year 2020/2021, benefiting a total of 149,398 pupils. There are 55,287 first-year students and 94,111 continuing students among them.
Prof. Ndalichako also asked HESLB to continue providing appropriate education to applicants so that they grasp the benefits and procedures of applying for a loan correctly, as well as to continue working with many stakeholders to assist many young people in applying for loans.
Speaking on the occasion, HESLB CEO Abdul-Razaq Badru stated that they had received orders and that HESLB officials would begin operating loan application programs appropriately under the #WeweNdoFuture campaign on July 12 of this year.
“We are finishing the procedure with the National Construction Army (JKT) leadership to contact all young people in the 19 JKT camps beginning July 12… We will also broadcast these programs through television, radio, social media, and stakeholder meetings,” added Badru.
Regarding the application method and timeframe, Badru stated that the loan application guide describing the requirements and procedure for applying for a loan is now accessible on the HESLB website (Friday, July 2, 2021).
“The information is now available on the website as of today, July 2, and we recommend that candidates study it before applying. Furthermore, from July 9 through August 31, 2021, the application procedure will be open for 53 days, according to Badru.
Prof. James Mdoe, Deputy Permanent Secretary of the Ministry of Education, Science, and Technology, as well as representatives from the Tanzania Postal Corporation (TPC) and the Registration, Insolvency, and Trusteeship Agency (RITA), which also caters to loan applicants, attended the inaugural meeting.
In 1994/1995, the HESLB was created in line with the Act, with the primary task of granting loans to needy students and recovering mature loans given by the government to higher education students.
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