HESLB Loanees | What You Need to Know

Higher Education Students’ Loans Board HESLB Loanees | What You Need to Know.

A loanee shall be required, subject to and in accordance with HESLB Act 2005 or any regulations made thereunder, within one year of completion of his studies or within such period as the Board decides to recall its loan whichever is the earlier:

1. To inform the Board of his/her contact address;
2. To begin repayment of his/her loan together with any interest accrued thereon;
3. If he is informal employment, authorize his employer to deduct the loan repayment and to remit it to HESLB as directed.

HESLB Functions

1. To assume responsibility for the control and management of all loanable funds as vested in the Board.
2. To formulate the mechanism for determining eligible students for payment of loans.
3. To administer and supervise the whole process of payment and repayment of loans
4. To keep the register and other records of students loan beneficiaries under the Board
5. To advise the Minister on matters of policy and of the law concerning provisions and recovery of loans to students.
6. 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
7. To establish operational links with employers of loan beneficiaries for the purpose of facilitating the recovery of the loans granted.
8. 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
9. 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.
10. 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
11. To perform such other functions as are conferred upon the Board by or under the Act or any other written laws.

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