THE number of students who have benefited from the Higher Education Students’ Loans Board (HESLB) has reached 830,000 in 20 years since its establishment, Prime Minister Kassim Majaliwa has declared.

Majaliwa said this in Dar es Salaam on Monday during the 20th anniversary celebrations of HESLB themed: “20 Years of HESLB: Positive Impact, Innovation and Service.”

He said the government had spent 8.2trn/- in loans to students since HESLB’s inception, saying: “The success we see today is a result of political will, strong leadership, vision and contributions from our leaders. Leaders from all phases have worked hard to ensure the board performs well and saw the importance of establishing this financing system.”

He noted that HESLB has collected 1.5trn/- in loan repayments, attributing it to innovative efforts to reach beneficiaries who had completed their studies.

“To ease the burden on students, the government abolished value retention fees, ensuring that beneficiaries repay only the amount borrowed without additional charges,”he explained.

The premier instructed HESLB to adopt technological advancements and strengthen collaborations with financial institutions in the country.

Georgia Mutagahywa, an education stakeholder, praised HESLB’s efforts, noting its role in enabling many Tanzanian youth from low-income families to pursue higher education. 

“It has enabled many young Tanzanians to achieve their educational ambitions. Many loan beneficiaries have gone on to secure employment in government institutions and various companies across the country,” she said.

She encouraged employers to support loans repayment efforts so that other young Tanzanians can borrow too.