THE Higher Education Students' Loans Board (HESLB) has so far recovered 35.1bn/- loans granted to university students.HESLB's Assistant Director for Information, Education and Communications, Mr Cosmas Mwaisobwa, said the amount was out of 57bn/- extended loans.
"The amount was collected between June and this month, I urge other beneficiaries of the loans to refund the money," Mr Mwaisobwa told a news conference in Dar es Salaam on Monday.
The HESLB Act provides a grace period of one year after graduation for recipients of the loan to start repaying the amount in instalments.
Mr Mwaisobwa explained further that between the year 2005 and June, this year, the amount of matured loans stood at 222bn/- which he said would be collected in instalments.
Meanwhile, the HESLB official advised students wishing to apply for loans to make applications through the internet since the technology has proved to be efficient compared to other systems.
"It is advisable that applicants make use of the internet where payments are also made online. If one fails to make it through the internet then she/he can contact us through a mobile number which is open full time," he explained.
During financial year 2005/2006, the board dished out loans amounting to 56.1bn/- to 42,729 students and the amount increased to 76.1bn/- for 47,554 students during the year 2006/2007.
Mr Mwaisobwa went on to add that the board had given loans totalling 235bn/- to 97,348 students during fiscal year 2012/2013.Responding to questions from journalists, Mr Mwaisobwa maintained also that the application fee is not refundable.