Higher Education Students’ Loans Board (HESLB)

Higher Education Students’ Loans Board (HESLB) – Bodi ya mikopo elimu ya juu

Higher Education Students’ Loans Board (HESLB) is a Tanzanian government agency responsible for providing student loans to eligible students in higher education institutions in Tanzania. HESLB was established in 2004 by an act of parliament with the aim of increasing access to higher education among Tanzanian students. Since its inception, HESLB has been providing loans to thousands of students, making higher education more accessible to Tanzanian youths. In this article, we will review the activities of HESLB, its impact on the Tanzanian education sector, and its challenges.

Activities of HESLB

HESLB is responsible for providing loans to students in higher education institutions in Tanzania. The loans are intended to cover the cost of tuition fees, accommodation, books, and other academic expenses. HESLB provides loans to both undergraduate and postgraduate students. The loans are granted based on the financial need of the student, the course of study, and the academic performance of the student. The loans are repayable after the student completes their studies and starts earning income.

Impact of HESLB

The establishment of HESLB has had a significant impact on the Tanzanian education sector. It has made higher education more accessible to students from low-income families who would otherwise not have been able to afford it. The loans have also enabled more students to pursue courses in science, technology, engineering, and mathematics (STEM) fields, which are crucial for the development of the country. The loans have also helped to reduce the number of dropouts and increase the number of students who complete their studies. This has led to an increase in the number of graduates, which is essential for the development of the Tanzanian economy.

Challenges facing HESLB

HESLB faces several challenges in its operations. One of the main challenges is the high number of defaulters. Many students who have benefited from the loans fail to repay them after completing their studies. This has resulted in a shortage of funds, which has affected the agency’s ability to provide loans to other students. Another challenge is the inadequate funding of HESLB by the government. The agency relies on government funding, which is often insufficient to meet the increasing demand for loans. This has resulted in a backlog of loan applications, which has affected the agency’s ability to provide loans to eligible students.

HESLB has played a crucial role in increasing access to higher education in Tanzania. The loans have enabled more students to pursue their dreams and contribute to the development of the country. However, the agency faces several challenges that need to be addressed for it to continue providing loans to eligible students. The government needs to provide adequate funding to HESLB to enable it to meet the increasing demand for loans. The agency also needs to develop strategies to reduce the number of defaulters and ensure that the loans are repaid on time. Overall, HESLB remains an essential agency in the Tanzanian education sector and should be supported to continue its vital work.

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.

Mission

To provide loans and grants to needy and eligible Tanzanian Students for Higher and Tertiary Education.

Vision

To be a reliable and sustainable revolving fund in financing eligible Tanzanian Students for Higher and Tertiary Education.

Core Values

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.