HESLB (The Higher Education Students’ Loans Board) in The United Republic of Tanzania provides a critical service to all eligible students demonstrating financial need by offering loans and grants to support their academic pursuits.
The Higher Education Students’ Loans Board (HESLB) is a corporate body established under Act No.9 of 2004 (as amended in 2007, 2014, and 2016) to assist needy and eligible Tanzania students in accessing loans and grants for higher education.
The main mandates of HESLB include:
- To assist, on a loan basis, needy students who secure admission to accredited higher learning institutions but have no economic power to pay for their education costs.
- To collect due loans from loan beneficiaries and use them as a revolving fund to sustain the operations of the Board.
- To create synergies through establishing strategic partnerships in the student financing ecosystem.
Also Read: What do an Engineer do? | All You Need To Know
Functions of HESLB
As a Government institution, HESLB has the following function:
- Assume control and management of loanable funds
- Formulate mechanisms for determining the 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 to re-lend the funds to other needy Tanzanian students
- Advise the Minister on policy and legal matters related to the 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 a 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 Tanzania students may access.
- Perform any other duties conferred by the Board or under the Act or any other written laws.
Also Read: The Complete list of BSs in Civil Engineering Subjects
HESLB General information
HESLB executes one of the key mandates in administering loans to students pursuing higher education in Tanzania and abroad.
Every year, the Board prepares the Loan Application almanac to guide the loan issuance process to needy and eligible students.
As per the almanac, the Loan Application Window opens once annually. Both undergraduate and postgraduate students who are eligible are invited to apply.
Criteria on eligibility and the application process are stipulated in the Loan Application Guideline for the respective year which can be downloaded on this site.
Prospective applicants are encouraged to read the guidelines carefully, prepare the prerequisites, and make their application online through the Online Application and Management System (OLAMS).
The loan application process is denoted by the figure below:
Obligations
1. Prospective Students:
- To read and understand the Loan Application Guidelines for the respective year
- To prepare all the attachments to support their applications (birth certificates, academic certificates, national IDs,s, etc)
- Ensure all documents are certified by relevant authorities.
- To complete and submit their applications online through OLAMS and a copy by EMS
- Visit the HESLB website for updates on their application
2. Student beneficiaries:
- To submit the necessary information to the Loan Officer (Registration number and bank details)
- To sign payments sent to his / her college within the stipulated time
- To inform the Loan Officer in advance, if there is any problem related to their loans
- Visit the HESLB website for more information on Higher Education Loans
3. Guarantors:
- To attest to the correctness and authenticity of the applicant’s information.
- To remind the applicant of their responsibilities.
Also Read: What is the Function of Buildings?
Important HESLB Links:
- Online Application (OLAMS)
- FAQs
- The 2024/2025 application guidelines and criteria for issuance of loans and grants.
- Contact HESLB.
- HESLB Publications.
- Loan repayment.
- HESLB Online Application 2024/2025
For more information visit the HESLB website.
HESLB: Wrapping Up
As discussed above, The Higher Education Students’ Loans Board (HESLB) is a Tanzanian government institute that provides loans and scholarships to students pursuing higher education within Tanzania and abroad.
They offer financial assistance to needy students, helping them cover tuition fees, accommodation, books and stationery, special faculty requirements, research expenses, field practical training, and other related expenses.
Thats all.
If you liked this article, please Join WebsiteForEngineers on Telegram, and you can also find us on Pinterest, Twitter, and Facebook.
