The Higher Education Students’ Loans and Grants Board (HESLGB) is pleased to announce to all accredited public and private higher education institution, continuing and newly selected students in these higher education institution, parents/guardians and the general public, that the Board has, today on 26th July, 2019 provisionally approved higher education students’ loans for 2019/2020 Financial Year subject to further joint vetting by the Board and administrators of higher education institution.
There has been an increase in the number of students’ loans beneficiaries from 12,725 in 2018/19 to 15,487 in 2019/20 due to the increased funding from the Malawi Government. Click here to read the full report.
Extension of the 2019/20 loan application window
For 2019/20 loans, HESLGB opened the loan application window from 1st to 30th April 2019. Considering that the public university selection lists were released towards the end of the loan application window, HESLGB has decided to extend the loan application window to 30th May, 2019. This has been done to provide ample time to newly selected students, who would like to access 2019/20 loans, to complete and submit their loan application forms. Click to read full article.
Eligibility criteria for 2019/20 student loans
The drive to increase access to higher education which has led to expansion of old as well as the opening of new universities/colleges is resulting in an increase in the demand for student loans. This is evident by the number of loans applications that HESLGB has been receiving over the years.
In addition to this HESLGB has also experienced an increase in the number of phone calls, emails, letters and walk in visitations from students, parents and guardians whom are requesting student loans. Click to read more
Recovery of Student Loans-Our Collective Responsibility
In September, 2015 Countries, including Malawi, adopted the Sustainable Development Goal (SDGs) which are aimed at ending poverty, protecting the planet and ensuring prosperity for all by the year 2030. These goals include: No poverty; zero hunger; good health and well-being; quality education; gender equality; clean water and sanitation; affordable clean energy; decent work and economic growth; industry; innovation and infrastructure; reduced inequalities; sustainable cities and communities; climate action; life below water; peace, justice and strong institutions; and partnership for the goals.
For Malawi to achieve these goals there is need for collective responsibility, where the government, the private sector, civil society and individual citizens have to work together whilst playing their unique roles and responsibilities. Click to read full article.
Pay back your students’ loans now and go into 2018 a debt-free person.
To fulfil this mandate and to ensure sustainability of the support to needy students, HESLGB was empowered by the HESLGB Act to recover old students’ loans so as to become a self-sustaining students’ loans revolving fund to sustainably support current and future needy and deserving students pursuing higher education in Malawi.
Key to the realization of this self-sustaining revolving fund are all former University of Malawi (UNIMA) and Mzuzu University (Mzuni) students who benefited from student loan schemes from 1985 to date. These former beneficiaries are key because they have a legal duty to pay back the loans that they were granted for tuition, upkeep or stationery. Click to Read the full article.