HESLB Postgraduate Loan Guideline 2024

HESLB Postgraduate Loan Guideline; The Higher Education Students’ Loans Board (HESLB) has released the Postgraduate Loan Guidelines for the academic year 2024/2025. These guidelines detail the criteria and procedures for obtaining loans to finance postgraduate studies in Tanzania. The loans cover tuition fees, research costs, and other expenses related to the student’s academic pursuits.

Key Dates and Application Window

The application window for the HESLB Postgraduate Loan opens on June 1, 2024, and closes on August 31, 2024. Prospective students are encouraged to thoroughly review the guidelines before applying. The application process is conducted online through the HESLB portal, requiring applicants to submit all necessary documents for consideration.

Eligibility Criteria

To be eligible for the HESLB Postgraduate Loan, applicants must satisfy both academic and financial need criteria.

Academic Qualifications

• Degree Requirement: Applicants must have a Bachelor’s degree or its equivalent from a recognized institution.
• Program Admission: Applicants must be admitted to a recognized postgraduate program in Tanzania or abroad.
• Approval by Authorities: The program must be approved by the Tanzania Commission for Universities (TCU) or the National Council for Technical Education (NACTE).

Financial Need Assessment

The financial need assessment evaluates the following factors:

• Applicant’s income or that of their parents or guardians.
• Applicant’s assets, including property, land, and vehicles.
• Number of dependents the applicant supports.
• Applicant’s expenses, including tuition fees, accommodation, and living costs.

The HESLB uses this assessment to determine the loan amount based on the applicant’s financial need and the program’s cost.

HESLB Postgraduate Loan Guideline

Application Process

Required Documents

Applicants must submit:

• Proof of citizenship (birth certificate or national ID card)
• Two recent passport-sized photos
• Admission letter from the university
• Academic certificates and transcripts
• Research proposal (for PhD applicants)
• Employer’s letter of release (for employed applicants)

Submission Guidelines

Applications must be submitted online through the HESLB Online Loan Application and Management System (OLAMS) at OLAMS. Applicants should follow the instructions carefully to avoid errors.

Deadlines and Timelines

• Application Period: June 1, 2024 – August 31, 2024
• Outcome Notification: The list of successful applicants will be published on the HESLB website after the application period.

Loan Coverage

HESLB postgraduate loans cover various expenses, ensuring students can focus on their studies without financial stress.

Tuition Fees

The loan covers tuition fees, examination fees, and related costs, disbursed directly to the educational institution.

Research Expenses

The loan can cover research-related costs, including fieldwork, laboratory work, data collection, and analysis. Students must submit a research budget for review.

Living Allowance

The loan provides a living allowance to cover accommodation, meals, transportation, and other essential needs. Students must submit a budget for their living expenses.

Terms and Conditions

Repayment Plan

• Repayment Period: Up to 5 years after completing the postgraduate program.
• Start of Repayment: Within 12 months of program completion.
• Repayment Amount: Based on the borrower’s income, capped at 15% of their gross income.
• Early Repayment: Allowed without penalties.

Interest Rates

• Fixed Rate: 6% per annum on the outstanding loan balance.

Deferral and Cancellation Policy

• Deferral: Up to 12 months for financial hardship or further studies, during which no repayments are required.
• Cancellation: Possible if the borrower is permanently disabled or deceased.

Awarding and Disbursement

Selection Process

HESLB employs a merit-based selection process, considering academic qualifications, financial need, gender, disability, and regional balance. Applicants are ranked using a points system to ensure fairness and transparency.

Disbursement Schedule

Loans are disbursed in two tranches per academic year:

• First Disbursement: At the beginning of the academic year.
• Second Disbursement: Midway through the academic year.

Disbursements are made directly to the recipient’s bank accounts, and recipients must sign a loan agreement outlining the terms and conditions before receiving funds.

Conclusion

The HESLB Postgraduate Loan Guidelines for 2024/2025 offer comprehensive financial support for eligible Tanzanian students pursuing postgraduate studies. By understanding and adhering to the guidelines, students can secure the necessary funding to achieve their academic and professional goals.