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Waliopat Makoto a awamu ya Tatu 2022/2023 Third Batch of HESLB Loans
The Higher Education Students’ Loans Board (HESLB) is a legal entity established under Act No.9 of 2004 (as modified in 2007, 2014, and 2016) to assist needy and eligible Tanzanian students in obtaining loans and grants for higher education. HESLB’s primary responsibilities include:
To support needy students who have been admitted to authorized higher learning institutions but lack the financial means to pay for their studies.
To recover past-due loans from loan recipients and use them as a revolving fund to support the Board’s operations.
Creating synergies through strategic collaborations in the student financing ecosystem
Optimal lending and loan collection
Business process reengineering
Accountability entails feeling obligated to strive for greatness.
Commitment and Integrity – We are committed to serving with integrity.
Teamwork entails working together to attain mutual goals.
Equity is important to us because it means being inclusive, fair, and just.
Delivery – We make every effort to provide high-quality services.
HESLB PRESENTS ITS DIGITAL CREDIT RETURN SYSTEM
The Higher Education Student Loan Board (HESLB) has officially implemented a computerized system that allows employers to submit deductions and beneficiary-employee lists online from any location.
HESLB CEO Abdul-Razaq Badru remarked at the system’s launch in Dodoma (Friday, June 10, 2022) that the system began in pilot in 2019/2020 and has now been completed, allowing employers and beneficiaries to repay the loan conveniently.
“Previously, the employer had to leave his workplace to come to HESLB to make payments, but now he can submit a list of beneficiaries – his employees and deductions – from wherever he is using our system, which he joins via our website (www.heslb.go.tz),” he explained. Abdul-Razaq Badru, CEO
According to Badru, who officially launched the system in Dodoma on Friday, June 10, 2022, the technology also allows individual beneficiaries to access credit information and payback procedures via the HESLB website.
“It has been extremely simple since last year; just log on to our website, click on reply loan’ or repay loan’ and follow the registration procedures, and you will continue to receive your debt summary on the spot or even claim refunds,” Badru explained.
Ms. Young Mi Cha, a representative of Young Jai Primary School in Dodoma, has encouraged HESLB to improve the system to allow companies to identify new employees who have benefited from higher education loans based on her experience using the system.
“There are occasions when new employees cheat, therefore despite the benefits of this system, I recommend that it be improved so that the employer can identify the new employee as a HESLB recipient or not without first asking or bringing your name to you for evaluation,” Ms. Young said.
HESLB was created in 2005 with two main roles: to provide loans to needy students enrolled in educational institutions and to collect mature loans from higher education loan beneficiaries dating back to 1994/1995.