Board disburses students loans for Malawi universities

The High Education Students Loans and Grants Board (HESLGB), says  it has  disbursed s loans to deserving students from public universities.

Chisoni: Loans disbursed

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.

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mac
Guest
mac

yes board managed to grant institution loan fee but students are straggling to find their own meals on daily basis due to lack money, why meals and accommodation is not included on institution fee like boarding secondary school? so where do you think students will get money from?

Awize
Guest
Awize

Accommodation and meals to be included in grants/ loans, really? Let’s be serious about this. I think tuition fees are enough at this point in time. There is no free lunch anyway. We should be aware that these loans come from the taxpayers money. They are not free money at all. Give a taxpayer a break please!

mac
Guest
mac

what I mean is that if student pay institution fee meal and accommodation must be inclusive as it was before, how can you expecting students to study without food and accommodation? government should follow what previous regime were doing.

Chatsalira
Guest
Chatsalira

Mr Chisoni did you pay back fraudulent MK17million that you dubiously gave tender to your wife’s Company?

Where is ACB. Really he is still in Office.
What does it take in Malawi to be tried and be convicted of corruption.

Sikusinja
Guest
Sikusinja

Try stealing less than K1million, then you will be tried and convicted.

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