Saturday, January 19, 2019

HESLB has collected a total of 94.01 billion TZS from higher education creditors in July - December 2018

The Higher Education Student Loan Board (HESLB) has collected a total of 94.01 billion TZS from higher education creditors in July - December 2018 and crossed its target of collecting TZS 71.4 billion over the period.

HESLB CEO Abdul-Razaq Badru has said today in Dar es salaam that these collections have grown from over 198,659 beneficiaries who have invested or employed in the private and public sector.

They benefited from paying taxes and started paying between July - December 2018

"During the period of July - December we have succeeded in discovering that the newest 12,600 beneficiaries have not yet begun to repay their loans and are now starting and making customers back to 198,656 right now," said Badru while talking to the media at the HESLB offices and adding:

"These TZS 94.01 billion collections are equivalent to an increase of 8.7 percent compared with TZS 85.88 billion collected during the same period last year, July - December 2017," he said.

Badru was describing the state of mortgage collection during the 2018/2019 semi-financing year in June this year which aims for the year to collect TZS 150 billion.

According to the established HESLB law, employers should cut down the basic salary percentage of 15 HESLB within 14 days after the end date of the deduction month.

At the conference, HESLB also officially announced the joining of the Government E-Payment Gateway - GePG and emphasizing that all payments to HESLB will be received in the same system followed by various government institutions.

HESLB CEO Abdul-Razaq Badru (second left) officially announces to the Revenue Government Revenue Fund with other stakeholders in the short-term event held in Dar es Salaam.

An employer or beneficiary must acknowledge 'Memory Number' Control Number) located on their Loan Statements and make payments through bank or phone. Detailed information is available on this site.

The CEO has emphasized that from now on, no payment will be received without following the system and that customers with questions ask for number 0659 748 536; 0621 870 172; 0620 714 421; and 0621 870 173).

HESLB is a government institution established in 2005 to carry out two major tasks. One, providing higher education loans to Tanzanian students who are needy and secondly collecting lending funds from beneficiaries beneficiaries of the Government since 1994/1995.