HIGHER Education Students’ Loan Board (HESLB) has released a list of the first batch of 47,305 first year students, who qualified for loans for the 2020/2021 academic year expected to start next week.
HESLB Executive Director, Abdulrazaq Badru said in Dar es Salaam on Wednesday that the beneficiaries will be paid a total of 150.03bn/- that has been released by the government.
Mr Badru noted that the 47,305 students is the first batch the of beneficiaries, adding that the second lot will be released on Saturday after completing the ongoing loans’ application analysis.
However, he noted that HESLB has started disbursing the funds to various universities after conducting a careful analysis to identify the neediest students.
“The processing of loans applications has been completed today (yesterday) and the list of beneficiaries has already been released ...we are going to disburse the funds to universities from today to ensure that students have their money before they report to their respective universities,” he said.
He noted that the first year students allocated with loans have met all the required qualifications including being the neediest, applied correctly with admission to one university.
“We are going to complete the processing of other applications and release the second batch on November 14 this year.” Mr Badru added that HESLB has been disbursing the funds to the universities before reopening for three consecutive years, because the government has been releasing the funds timely.
The Director further said that the government has set aside 464bn/- for the 2020/2021 academic year for 145,000 beneficiaries, where 54,000 will be first years, and 91,000 for continuing students.
“This is an increase of about 15bn/- in comparison to the previous budget,” he added.
However, Mr Badru called upon the beneficiaries to access more details from their accounts opened while applying for the loans commonly known as Student’s Individual Permanent Account (SIPA).
He, equally, noted that a total of 44,629 continuing students from various universities have been allocated with the loans worth 155.06bn/-