HESLB Loan Beneficiary Batch 1-4 2024/2025

The loans for the academic year 2024–2025 have been released by the Higher Education Students’ Loans Board (HESLB). A total of 21,509 students in the first batch will get loans totaling TZS 70.78 billion. The beneficiaries of this announcement, which was made on September 28, 2024, are mostly first-year undergraduate students, as well as those enrolled in master’s degree programs and practical law schools.

Loan Allocation Procedures

1. Eligibility Criteria: To qualify for the loans, applicants must meet specific criteria set by HESLB. These include being a Tanzanian citizen, having applied through the Online Loan Application and Management System (OLAMS), and being admitted to an accredited higher learning institution on a full-time basis.
2. Application Status: Students can check their loan status through their Student’s Individual Permanent Account (SIPA). This online system allows them to view detailed information regarding their loan allocations without needing to visit HESLB offices physically.
3. Disbursement of Funds: The disbursement process is coordinated by HESLB officers who will be present at various higher education institutions to ensure that funds reach the students efficiently and on time.
4. Future Allocations: Following this first batch, HESLB plans to continue processing applications and will announce subsequent batches as they complete verification of other applicants’ submissions.

In Summary

In summary, the first batch of loan beneficiaries for the academic year 2024/2025 consists of 21,509 students, with a total loan allocation amounting to TZS 70.78 billion. This initiative aims to support students in accessing higher education by providing necessary financial assistance.

The Higher Education Students’ Loans Board (HESLB) is a body corporate established under Act No.9 of 2004 (as amended in 2007, 2014 and 2016) with the objective of assisting needy and eligible Tanzania students to access loans and grants for higher education. The main mandates of HESLB include:

1. To assist, on a loan basis, needy students who secure admission in accredited higher learning institutions, but who have no economic power to pay for the costs of their education
2. To collect due loans from loan beneficiaries and use it as revolving fund to sustain operations of the Board
3. To create synergies through establishing strategic partnerships in student financing ecosystem