The High Education Students Loans and Grants Board (HESLGB), says it has disbursed s loans to deserving students from public universities.
HESLGB executive director, Chris Chisoni says the board, which is mandated to disburse the loans, has released MK6,830,566,500 to each student meaning that MK4,759,066,500 as tuition loan and MK2,071,500,000 as upkeep loan.
Chisoni said the Board is thankful to the country’s leadership for the commitment towards higher education.
“We commend Professor Arthur Peter Mutharika, who is the champion of higher education in Africa for his commitment and passion for higher education in Malawi as he directed that the allocation to the Students’ Loans be increased in 2018/19 budget by 100% (from MK4BN to MK8BN) in so doing allowing the Loans Board, for the first time to reach out to 91% of the students loans applicants.”
On loan recovery, Chisoni said the board has recovered K400 million from the targeted figure of K1.2Billion.
He revealed that the response is just good because some student beneficiaries are repaying back the loans.
“When the adverts and campaign for the recovery of the students’ loan money from the former beneficiaries started, we had people complaining that they were not supposed to give back this money. At the beginning of this year, we have seen a positive change in attitude and some of these former beneficiaries are now giving back their loans,” said Chisoni.
Chisoni said the board’s activity on the loan recovery is on track now since some former students who are beneficiaries are taking it upon themselves to enquire on how much they owe the board and how to repay the loan.
“We have instilled a culture where people are asking for their balances and paying them immediately. Employers of different beneficiaries have also been helpful by providing list of names of people that work for them and passed through the corridors of the University of Malawi,” he said.
He said the attitude and collaboration that is there now is a positive stride that will enable the loans board collect up to 85% of the calculated amount with exception of former beneficiaries that are now deceased.
Colleges under University of Malawi include The Polytechnic, College of Medicine, Chancellor College and Kamuzu College of Nursing.Follow and Subscribe Nyasa TV :