First List of Beneficiaries for 2024/2025 Announced by HESLB
The First Batch Includes 21,509 Students; The Higher Education Students’ Loans Board (HESLB) has officially released the first list of students who have been allocated loans for the 2024/2025 academic year. This initial phase includes first-year students pursuing undergraduate degrees, practical law school training, and postgraduate degrees. The total value of these loans amounts to TZS 70.78 billion.
Accessing Loan Information via SIPA
HESLB’s Executive Director, Dr. Bill Kiwia, has announced that all students who applied for loans for the 2024/2025 academic year can now access detailed information regarding their loans through the accounts they used to apply, known as ‘SIPA’ – Student’s Individual Permanent Account.
“Today, we have started providing loan information for all categories. Those who have been allocated loans can find their information in the same accounts they used to apply. There is no need to visit HESLB offices,” said Dr. Kiwia. He added that the allocation process for diploma and Ph.D. students is still ongoing.
Dr. Kiwia also mentioned that HESLB is in the process of preparing payments for both new and continuing students who are beneficiaries of the loans. The aim is to ensure that the funds reach the universities on time.
245,799 Students to Benefit from Loans in 2024/2025
“This year, the government has allocated TZS 787 billion for a total of 245,799 students, including over 88,000 first-year students who have been allocated TZS 284.8 billion,” stated Dr. Kiwia. He added that the budget for the 2024/2025 academic year has increased by TZS 38 billion, a 5.1% rise compared to the 2023/2024 budget, which was TZS 749.4 billion. This year, the minimum loan amount for individual beneficiaries has increased to TZS 3.0 million from TZS 2.7 million in the previous academic year.
Call for Universities to Submit Exam Results
Regarding the responsibilities of universities, Dr. Kiwia reminded those institutions that have not yet submitted the exam results of continuing loan beneficiaries to do so promptly. This will enable HESLB to prepare timely payments for students who have passed and are continuing their studies.
“There are a few universities that have not yet submitted their results. We have reminded them and emphasized the need to expedite the submission to complete the payments for students who have successfully continued their studies,” said Dr. Kiwia.
Announcement of the Second Batch
Dr. Kiwia also mentioned that the second batch of students who will be allocated loans for the 2024/2025 academic year will be announced next week.
Issued by:
Higher Education Students’ Loans Board (HESLB)
Saturday, September 28, 2024
This announcement marks a significant step in ensuring that students receive the necessary financial support to pursue their higher education. Keep an eye on the official HESLB website for further updates and details regarding the loan allocations.