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The Higher Education Students’ Loans Board (HESLB) has announced the fourth phase of loan allocations, amounting to a substantial 27.52 billion Tanzanian Shillings for the 2024/25 academic year.
This latest funding initiative will benefit 9,068 undergraduate and diploma students across various higher education institutions in the country.
According to a statement released on the HESLB official website, the new allocation will assist 4,400 first-year students, who will collectively receive 13.74 billion Shillings. This financial support aims to ease the burden of tuition and other educational expenses, ensuring that more students have access to higher education.
The fourth phase also includes support for 2,646 continuing undergraduate students who are receiving loans for the first time, amounting to 8.37 billion Shillings. Additionally, 2,022 first-year diploma students enrolled in priority programs at intermediate institutions will benefit from loans totaling 5.41 billion Shillings. This targeted approach reflects HESLB’s commitment to supporting students in fields deemed crucial for national development.
In a notable initiative, HESLB is also providing 3.14 billion Shillings under the Samia scholarship grant. This funding will be awarded to 588 students in the first phase, 11 in the second, and 26 in the third phase, with first-year undergraduate beneficiaries focusing on disciplines such as science, technology, engineering, mathematics, and medicine. This scholarship program is designed to promote enrollment in critical areas that are essential for the country’s progress.
HESLB’s efforts come at a time when access to higher education remains a significant challenge for many Tanzanian families. The loan program is aimed at addressing these barriers, ensuring that students from diverse backgrounds can pursue their academic goals without the overwhelming financial strain that often accompanies higher education.
The government has emphasized the importance of investing in education as a means of fostering economic growth and social development. By providing financial assistance through loans and scholarships, HESLB plays a crucial role in enabling students to acquire the skills and knowledge necessary for the job market.
As the academic year approaches, many prospective students are eagerly awaiting these loan disbursements, which will enable them to enroll in their chosen programs. The response to previous phases of loan allocations has been overwhelmingly positive, with many beneficiaries expressing gratitude for the financial support that has made their education possible.
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Looking ahead, HESLB is expected to continue refining its loan allocation processes to better meet the needs of students. This includes ongoing evaluations of the effectiveness of the funding programs and exploring additional avenues for financial assistance.
The ongoing allocations are not just an investment in individual futures but also in the collective progress of the nation.
