The Higher Education Loans and Scholarship Board – HELSB has supported over 45, 000 beneficiaries through the student loan scheme at the University of Zambia – UNZA, Copperbelt University – CBU and Kapasa Makasa University from 2004 to date.
The board has also from January to September 2019 recovered K40, 467,492, 24 from individuals that benefited from student loans from Public Universities.
Speaking at a media breakfast meeting in Lusaka on 25th, October 2019 attended by the Zambian Business Times – ZBT, Board Chief Executive Officer Ireen Chirwa further disclosed that 24, 000 of these students were no longer on the loan scheme as at December 2018.
She said during the months of September 2018, the board targeted to recover from 19,000 of these beneficiaries and managed to trace 4, 870 to the government payroll system and 11,876 through the National Pension Scheme Authority – NAPSA.
Ireen said the board has since 2004 been providing financial support to public universities but that this year it extended its support to 4 new Public Universities namely, Mukuba with 182 students, Mulungushi – 300 students, Kwame Nkrumah – 250 students and Chalimbana University with 114 students all from first years.
“Currently we have about 426 beneficiaries employed by government and for this year only we have recovered K4467 from our beneficiaries. And for the 2019/2019 academic season we were allocated K557 million by government to be disbursed to students through our services,” She said.
She added that government has for the 2019/2020 academic season allocated the same amount as of last year stating that the allocated amount is less than amount budgeted for by the board which was K817 million but that it will be managed accordingly.
