Higher Education Students’ Loans Board (HESLB) Loan Payment Procedures
The Higher Education Students’ Loans Board (HESLB) was established by Act No. 9 of 2004 and
became effective in July 2005. HESLB is mandated to, among others, issue loans and or grants to
needy and eligible students. HESLB Loan Payment Procedures are explained as follow below:-
HESLB Loan Payment Procedures | Repay HESLB Loan
- The Higher Education Students’ Loans Board (HESLB) is tasked by its establishing Act, under section 7 (i),to recover all due loans extended to former students since July 1994 so that the same money can be used to lend other students, thus rendering the Loan scheme sustainable and long lasting.
- Loans are repaid following expiry of two-year grace period upon successful completion of studies or upon earlier termination of studies for whatsoever reason
- For commencement of loan repayment, a Loan Beneficiary will have to be availed with a loan statement after submission of the following particulars to the Board through email: [email protected]
- Full names as used during study
- Higher Learning Institution attended
- Year of Entry and Year of Exit
- Postal and Physical address
- Mobile Tel. No.
- Employment status
- Loans are repaid at a rate of not less than 15% of monthly income/salary of loan beneficiaries and Tzs. 100,000.00 for self-employed loan beneficiaries.
LOAN REPAYMENT MODE
All payments are payable to Higher Education Students’ Loans Board, by crossed cheque, Bankers direct transfer/standing order/EFT or CASH DEPOSIT to HESLB collection A/C in any of the following banks
|BANK||ACCOUNT NO.||SWIFT CODES|
|CRDB – Bank||01J1028467503||CORVUTZTZ|
|Tanzania Postal Bank||CCA-024-00000032||TAPBTZTZ|
COMPETITION OF LOAN PAYMENT
Upon completion of loan repayment, kindly seek clearance certificate from HESLB. Please note that only HESLB can confirm your loan repayment status. HESLB shall confirm loan repayment completion by issuing certificate of clearance.
For enquiries on loan repayment, kindly e-mail: [email protected]