CREDIT APPLICATION WINDOW OPENED IN JULY/DIRISHA LA MAOMBI YA MIKOPO KUFUNGULIWA

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The Higher Education Student Loans Board (HESLB) has announced that the Higher Education Student Loan Application window for the year 2021/2022 is expected to open in July this year.

Speaking at the signing ceremony of the memorandum of understanding between HESLB and the Registration, Insolvency and Trusteeship Agency (RITA) held today Monday (June, 7, 2021), HESLB CEO Abdul-Razaq Badru said before the window opened. of the HESLB application, will provide the loan application guidelines expected to be released on June 25 this year.

In addition, Badru said his office has completed all the preparations for the new academic season of 2021/2021 and urged students who need to use the available time to complete various loan application procedures.

"We urge students to carefully read the loan application guide that will be available on our website ( www.heslb.go.tz ) which will be published in English and Kiswahili, before opening the application window the student should read this guide" said Badru.

Regarding the loan budget, Badru said in the academic year 2021/2022 the Government has allocated TZS 500 Billion for higher education loans which is expected to benefit a total of 160,000 students.

Elaborating on the state of lending for the 2020/2021 academic year, Badru said that as of June this year a total of 149,472 students have been allocated loans worth TZS 464 Billion, of which 55,337 are first year students and 94,135 are continuing their studies .

In terms of loan repayment, Badru said that as of May this year, HESLB had collected TZS 168 Billion, which is equivalent to 88.4% of the target of collecting TZS 190 Billion in the financial year 2020/2021.

For her part, RITA Acting Chief Executive Officer, Emmy Hudson said the Office has completed various steps to enable needy students including providing birth certification guidance which is one of the key documents required when applying for a loan.

He added that to date RITA has received a total of 13,938 applications for verification of birth certificates, of which 7334 applications have already been verified, urging parents and students to use the available time to complete the verification of such documents.

In addition Emmy said RITA will work on all the instructions given and strengthen cooperation with HESLB including strengthening the ICT systems aimed at eliminating various challenges facing students when applying for higher education loans