Tanzania to issue loans of about 200 mln USD for university students

Dar es salaam, Tanzania | XINHUA | Tanzania’s Higher Education Students’ Loans Board (HESLB) announced on Tuesday that it will issue 464 billion Tanzanian shillings (about 200 million U.S. dollars) for 145,000 students in universities and high learning institutions in the 2020-2021 academic year.

HESLB, in a statement, informed students in the high learning institutions to start applying for the loans through the Board’s Online Loan Application System from July 21 to August 31.

Abdul-Razaq Badru, HESLB executive director, said out of the 145,000 student beneficiaries, 54,000 will be for the first year and 91,000 are students continuing with their studies, said the statement.

He said the 464 billion shillings budget for students’ loans for 2020-2021 academic year was an increase from 450 billion shillings that benefited 132,119 students in the 2019-2020 academic year.

On May 22, HESLB announced the release of education loans to the tune of 63.7 billion shillings after Tanzania President John Magufuli had announced the reopening of universities.

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XINHUA