Malawi govt embarks on university students’ loan recovery

Malawi government, through the Higher Education Students’ Loans and Grants Board (HESL&GB) has embarked on the recovery of students’ loans that were accessed between 1985 and 2012.

Chipungu : Malawi's Higher education Students Loans and Grants Board

Chipungu : Malawi’s Higher education Students Loans and Grants Board

A statement from the Board chaired by Dr Geofrey Chipungu  urges all loan beneficiaries within the said period to verify with the Board’s Secretariat on the status of their loans and agree on the modalities of repayment.

The Board has set 12 months from April 2016 as a period for the matured loans to be repaid in full so as to meet the ever growing demand for loans to finance higher education for needy and deserving students.

“The Board will do all it can to recover all the overdue students’ loans which are public funds expected to develop into a revolving fund that will benefit all the upcoming generations of our nation,” reads the statement in part.

The statement further says the Secretariat of the Board will contact and interface with all the employers specifically their Human Resources departments and the professional bodies as they trace the former beneficiaries towards the recovery of the loans.

According to the statement, failure by an employer to disclose the existence of the former students’ loans beneficiaries under their employment will attract a penalty fee of MWK1 million for each employee in line with the HESL&GB Act Section 30, subsection 1.

The Board says cash or cheque payments should be deposited into the Board’s Malawi Savings Bank Account No. 202 3936146 001, Account Name: Student Loans Collection Account, held at City Centre Branch or National Bank Account No. 1002261808, Account Name: Higher Education Loans Recovery Account, held at City Centre Branch, whichever of the two banks is closer to your locality.

For bank transfers and direct deposits, the Board says it shall require a copy of the deposit slip completed with details of loan beneficiary name, institution where they studied, period of study, student registration number and current contact address and phone number which can be scanned and get emailed to [email protected] or sent by post through Private Bag B417, Lilongwe.

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hahahahhaha zili bho
Guest
hahahahhaha zili bho
6 months 1 day ago

Very backward. Why not digitize these things?Have an online account where we can look up our status and, for those of us in Diaspora, pay online. Do you honestly expect me to call from Finland for a silly loan which today is not even worth a weekend getaway at Salima? Mukhalira yomweyo. This is another cashgate in the making.

Mwatani
Guest
Mwatani
6 months 1 day ago

It was K100 per year.

Ali
Guest
Ali
6 months 1 day ago

Mutipelekeleko ngati muja munawathandiza aja adabweleka ku MALAWI SAVINGS BANK

Zapadziko Chiputula
Guest
Zapadziko Chiputula
6 months 1 day ago

I’m now asked to pay back the money which i demonstrated in order to get it. I got bruised in Mulunguzi river where we were involved in running battles with the police. I’ve to think twice because memories are still fresh.

Chicco phiri
Guest
Chicco phiri
6 months 2 days ago

Apatu palibe mzeru bambo,,,,,,,,,,,macashgate achitikawa wina mkumati abwenze ndalama zachani?

Mchewa
Guest
Mchewa
6 months 3 days ago
Dear Dr. Chipungu. When you were University Registrar, UNIMA and Mr. W.E.S Mvalo Registrar at CHANCO, I got a loan of K200 in 1989 and MK400 in 1990 and graduated. We were later told the 1990 loan was a grant to us needy students. In 1992, there were deductions made on my pay slip at Ministry of Education but just for a few months then stopped. I am grateful to the then government for availing the loans to me and am ready to pay back my small loan at the dollar rate of 1988/1990. But most of us do not… Read more »
Davido
Guest
Davido
6 months 3 days ago

Stupid UNIMA graduates pretend to be smart and yet can’t support their own alma mater. Pay back the money please. Act like Education made some difference in your mind set. Kunhokhalila kunyoza others basi when it’s you guys that have failed this country.

mukharapwio
Guest
6 months 4 days ago

this is very stupid just like stupidity whereby some Gvt ministries and parastatals are being forced to congratulate Peter after IMF lifted the ban on Extended Loan Facility to Malawi.why can’t u just trace them and tell them to pay.start with Chilima, Felix Kaupa, Noel Chalamanda, Kabwira Chinsinga, Walter Nyamilandu, Ben Botolo, Lutepo, Ken Lipenga Jnr, Tamanda Chokotho etc.za usawiii chani?

UNIMA 1995
Guest
6 months 4 days ago
I think these guys should set realistic targets. There was nowhere people could repay the loans. No body delayed the repayment but lender was not ready to collect the money. The system in the 80s-2000 didn’t have an element of a loan. E.g in 1995 the loan for an academic year was 360.00 kwacha. (This is less than 1000.00mk.) Then same pple were getting book allowance of 120.00mk. Can u think pali seriousness apa. For four years ur total was less than 2000.00 mk. One woukd asks how much was for fours years in 1985. Certainly these loans become mature… Read more »
mche
Guest
mche
6 months 5 days ago

eeeee zavuta.ngati anamwalira? Ngati akugwira ku ngo? Mnkulu ndi wankhanzadi eti? 1985?sinthawi ya kamuzu imeneyo? Ndiye ngati kamuzu analephera ku chita recover loanyo mukadule inu?? Ma eight thousand kwacha omwe mumawa lipiritsa ana mazanamaza na aunima entry aja mwadya atha? Kodi mdala ameneyi sanaphunzira yaulere ameneyi?titchajanso” nawe ubweze”

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