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The Higher Education Students' Loans Board was established by Act No. 9 of 2004, inaugurated by the Hon. Minister for Higher Education, Science and Technology on the 30th March 2005 and became operational in July 2005. The objective of the Board is to assist, on a loan basis, needy students who secure admissions in accredited higher learning institutions, but who have no economic power to pay for the costs of their education. The Board is also entrusted with the task of collecting due loans from previous loan beneficiaries in order to have a revolving fund in place so as to make the Board sustainable.... Read More

Loan Defaulters/Wadaiwa

REMINDER NOTICE TO ALL LOAN BENEFICIARIES WHO HAVE NOT STARTED TO REPAY THEIR HIGHER EDUCATION STUDENTS' LOANS

The Higher Education Student' Loans Board (HESLB), hereby notifies all loan beneficiaries who are not servicing their loans and whose names appear on the website of the Board (www.heslb.go.tz) that it is a legal requirement as per section 19 (i) of the HESLB Act. No. 9 of 2004 (as amended), that all loan beneficiaries should submit to the Board or to the Debt Collectors assisting the Board to recover the loans, information which would facilitate repayment of their loans. To this end, Loan Beneficiaries whose names appear in the Board website are hereby reminded to furnish the Board with the necessary information regarding their whereabouts and current employment, within 21 days from the date of this notice, in the following format:

S/N Check/PF Number Form IV Index No. and Year of Completion Full Name of employee as used during Study Name of Institutio(s) of Higher Learning Year of entry of studies Year of completion of studies Academic award Current Postal Address Current Mobile No. and Email Name and Address of current employer
1 xxxx/xxxx/xxxx
2
3

The said Loan defaulters are further notified that after expiry of this notice the following consequences shall fall upon those who will have not communicated or submitted their information to the Board or to the Debt Collectors:-

  1. Shall be liable to legal action as per Sect. 19 (a) (1) of the HESLB Act.
  2. Shall be subjected to additional monthly Penalty of 5% p.a. on the outstanding loans, over and above the 5% that was levied earlier.
  3. Shall have his/her outstanding loan loaded with the cost of tracing that will be charged after being traced by the Debt Collection Agent of the Board.
  4. Shall be blacklisted and his/her information shall be submitted to the Credit Reference Bureaux, following which they shall be barred from access to credit facilities from all Financial Institutions.
  5. Shall be barred from securing Government scholarships or admission for Postgraduate studies in any Higher Learning Institution within and outside the country.
  6. Their details shall be submitted to the Ministry of Home Affairs, Department of Immigration and all Embassies where they will be denied approval for travelling abroad.

Loan beneficiaries who are self employed or unemployed are also required to provide such information.

The names, addresses and other details of the Debt Collectors are as follows:

SN Name Address Office Location E-mail Fax/Tel Areas of Operation
1 Msolopa Investment
Company Ltd

P. O. Box 40561,

Dar es Salaam

Nkrumah Street,

Plot No. 1083/157,

Apartment No. 101,

Ilala District.

msolopainvest
@yahoo.com

022-2134010/

0773-963369

Kinondoni Municipal
Iringa Region
Mbeya Region
Arusha Region
Manyara Region

Mara Region
Mwanza Region
Kagera Region
Mtwara Region

2 Nakara Auction Mart

P. O. Box 22453,

Dar es Salaam.

Igesa Road nakaraauctionmart
@gmail.com
0255 22 2127630 Ilala Municipal
Temeke Municipal
Kilimanjaro Region
Tanga Region
Morogoro Region
3 Sikonge International
Co. Ltd

P. O. Box 40561,

Dar es Salaam

Nkrumah Street,

Plot No. 1083/157,

Apartment No. 101,

Ilala District.

- 0757-280957 Dodoma Region
Singida Region
Shinyanga Region
Tabora Region
Kigoma Region
4 Dodoma Universal Trading Company Ltd

P. O. Box 126,

Dodoma.

Dar es Salaam:

Shekilango Road -

Sinza kwa Remy.

Dodoma:

Kuu Street Fortis Building

-

0754-316716/

0716-559906

Coast Region

N. B : This notice is not applicable to any Loan Beneficiary who is currently repaying or who has fully repaid his/her loan.

Issued by:

EXECUTIVE DIRECTOR

HIGHE EDUCATION STUDENTS' LOANS BOARD

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Be Responsible; repay your higher education loan.

Higher Education Students' Loans Board