Dar es Salaam – The Higher Education Student Loans Board (HESLB) will total Shill 570 billion in the new financial year (2021/22). spend instead of the previously announced Shill 500 billion. The money will benefit at least 160,000 loan applicants, as it became known yesterday.
Recently the government had a loan increase of Sh464 billion. to 500 billion Shs in the 2020/21 financial year. announced for the 2021/22 financial year.
However, at the release of the new loan application guide for 2021/22 and the loan application window – an event held yesterday in Dar es Salaam – Minister of Education, Science and Technology, Prof. Joyce Ndalichako, announced that President Samia Suluhu Hassan 70 billion to the originally intended Sh500 billion.
According to Prof. Ndalichako, this should result in an increase of more than 10,000 students this year. The new number breaks the HESLB’s 16-year record for total credit as the government seeks to increase the number of loan recipients in the country.
She said 62,000 of the 160,000 students are freshmen while the remaining 98,000 students are continuing their college education.
“Let me reveal a secret. By last month, the loan budget for 2021/2022 had grown to Shill 500 billion. But in her first 100 days in the presidency, ‘Mama Samia’ added Shill 70 billion to the coffers and thus increased the loan amount. ” to be Sh570 billion – equivalent to an overall increase of Sh106 billion, or 22.8 percent, “she said.
The increase confirms President Hassan’s sixth phase government’s intention to provide more young Tanzanians with access to credit, study well, to serve the country and achieve their dreams, she said.
Prof. Ndalichako urged loan applicants to read the instructions carefully and fill out the forms correctly in order to be in a good position to receive loans.
In 2020/2021 the government granted a loan of Sh 464 billion to 149,398 students. – 55,287 of these are new students, while 94,111 should continue their studies.
In another development, Prof. Ndalichako urged the HESLB to continue providing education to applicants so that they fully understand the requirements and procedures for obtaining educational loans and to continue to work with various stakeholders to make the loans easier for many young people.
In a brief rejoinder, HESLB Executive Director Mr. Abdul-Razaq Badru said he was ready to work on the guidelines – and that HESLB officials will begin running loan application programs properly from July 12 this year
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