Higher Education Students’ Loans Board (HESLB) – Bodi ya mikopo elimu ya juu
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. HESLB commenced operations in July 2005 using a secretariat of 9 (nine) staff seconded to the Board by the Ministry of Education, Science and Technology.
The Board has been mandated 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. The Board is also entrusted to collect due loans from loan beneficiaries and use it as revolving fund to sustain operations of the Board.
More info about Higher Education Students’ Loans Board (HESLB)
The Act establishing the Board articulates key functions of the Board as to:
- Assume control and management of loanable funds.
- Formulate mechanisms for determining eligibility of students for loans.
- Administer and supervise disbursement and repayment of loans offered since 1994.
- Issue loans to eligible and needy Higher Education Students.
- Keep and maintain the register and other records of loan beneficiaries and amounts granted to them.
- Collect repayments for all loans issued to students since 1994 so as to re-lend the funds to other needy Tanzanian students.
- Advise the Minister on policy and legal matters related to issuance and recovery of loans to students.
- Establish operational linkages between the Board, higher learning institutions, loan beneficiaries and employers for effective issuance and recovery of loanable funds.
- Establish and maintain cooperative network between the Board and other local and international stakeholders in higher education, be it Government or non- government institutions.
- Conduct research and maintain a databank on other local and external scholarships, sponsorships and awards that may be accessed by Tanzania students and Perform any other duties conferred by the Board or under the Act or any other written laws.
To provide loans and grants to needy and eligible Tanzanian Students for Higher and Tertiary Education.
To be a reliable and sustainable revolving fund in financing eligible Tanzanian Students for Higher and Tertiary Education.
The core values which will guide HESLB in achieving its objectives are:
Accountability: We are accountable for our own results, encourage ownership by taking initiatives and doing the right things for our organization. We feel obliged to make things better, to pursue excellence, and to do things in ways that further the goals of our organization. We will be answerable for our actions and the actions of our teams.
Commitment and Integrity: We are passionate and intensely focused on serving our clients (the higher education students) with high level of Integrity to enable them achieve their dreams. We do what we promise we are going to do. As individuals and as an organization, we are dedicated to serve our clients and stakeholders. We value all of our customers and stakeholders with high degree of Integrity.
Teamwork: We are committed to common goals based on open and honest communication and collaboration to one another while showing concern and support for each other and most importantly, our clients. We believe the best results stem from integrating a mix of talents, skills and experiences.
Equity: We value inclusiveness, fairness, transparency and justice that we want to see persist, and because of our main existence, we place a particular focus on reflecting the need of the disadvantaged, low-income communities most impacted by our work.
Delivery: We strive to individualize the client experience, provide high quality services that meet the expectations and requirements of our clients and suppliers. We seek to add value to our clients’ career through tailored higher education financial support.