Kudos to Govt for students’ loans allocation

DAR ES SALAAM: YESTERDAY it was reported that the Higher Education Students’ Loans Board (HESLB) has disbursed 426.5bn/- in study loans to 135,240 students as part of the first allocation for the 2025/2026 academic year.

According to HESLB Executive Director, Dr Bill Kiwia the beneficiary students include those who are pursuing undergraduate degree and diploma as well as recipients of the Samia Scholarship, in the form of loans and grants.

Throughout the world, students frequently borrow money to finance their education. There is nothing new in this; students in many countries have always borrowed from family or relatives to finance either the costs of tuition or their living expenses.

In the past years, countries, both developed and developing, have established programmes of student loans, or educational credit, to enable students to borrow, in order to invest in their own higher education.

The spread of the notion of education as investment in human capital and the belief that education contributes to economic growth encouraged the idea that students should have greater access to capital markets in order to help them finance this investment.

Student loans were advocated as an ideal way of ensuring that individuals of high ability but limited financial means should not be denied the educational opportunities that would lead to higher levels of personal and national income.

Other 88,331 continuing students in various universities nationwide have been allocated loans worth 271.2 bn/-.

The government through HESLB has shown commitment to ensuring Tanzanian students access loans for their studies on time so that they can enrol for studies in their respective higher learning institutions.

If money is what is standing in the way of the life and career one wants, then a student loan could help one afford their education without stressing about how they are going to finance it.

Getting a higher education is an investment in oneself but unfortunately, it is also expensive. Here is why a student loan could be just the tool one needs to facilitate their academic life and financial future.

It is a fact that this gives one what they need when they need it. A student loan caters to specific and unique needs and the process is quick and easy. It pays tuition directly to the institution, as well as accommodation. This is a smart way.

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The loan gives students the flexibility to focus on studies and after graduating and getting a job, the loanee starts paying the loan in small amounts as indicated in the loan agreement reached when applying for the same.

The loan system gives students the financial freedom to focus on studies and create the future they want without worrying too much about money. Kudos to the government for taking care of students.