FIRST BATCH OF LOAN BENEFICIARIES WHO HAVE NOT STARTED TO REPAY THEIR LOANS
The Higher Education Students’ Loans Board (HESLB), hereby notifies all loan beneficiaries who are not servicing their loans and whose names appear herein that they have breached a contract as per the HESLB Act. No. 9 of 2004 (as amended) Section 19 (1).
These Loan Defaulters are further notified that according to HESLB Act No. 9 0f 2004 the Board, intends to take the following steps: -
(i) Shall be liable to legal action as per Section 19 (a) (1) of the HESLB Act.
(ii) Shall be subjected to additional monthly Penalty of 5% p.a. on the outstanding loans, over and above the 5% that was levied earlier.
(iii) Shall have his/her outstanding loan loaded with the cost of tracing that will be charged after being traced by the Board.
(iv) 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.
(v) Shall be barred from securing Government scholarships or admission for Postgraduate studies in any Higher Learning Institution within and outside the country.
(vi) 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.
All Loan Beneficiaries whose names have been published in the newspapers and on this website of the Board through http://olas.heslb.go.tz are required to repay their due loans immediately to avoid facing the above listed measures. Loans statements and other details of their due loans can be accessed by visiting HESLB Offices or writing to:
Acting Executive Director,
Higher Education Students’ Loans Board,
P.O. Box 76068
Dar es Salaam
Email: [email protected]