7 things you should know For HESLB First Time Loan Application for 2018/19 academic year

Everything you need to know – for the HSELB First Time Undergraduate Loan Application for 2018/19 academic year

INTRODUCTION

As part of implementation of the Education and Training Policy 2014, the Higher Education Students’ Loans Board (HESLB) that was established under Act No. 9 of 2004 (as amended) and commenced operations in July, 2005, will continue to issue loans to eligible students as per its mandate and procedures. Among other things, the Board has been entrusted by the Government with the responsibility to issue loans to students pursuing Diploma in Science/Mathematics with Education and Diploma in Primary Education (Science/Mathematics)/ Higher Diplomas and Degree studies at accredited Higher Education Institutions in and outside the country, issue grants to Medical related programmes and other programmes as may be approved by the Government and to collect repayment for all loans issued to students since 1994, so as to make the scheme successful and sustainable

Here are the 7 important things to consider during HESLB First Time Undergraduate Loan Application Financial Year: 2017 – 2018

1. When HESLB Loan Application window will be open for 2017/18 academic year?

The Loan Application Cycle for 2018/2019 academic year is open from 10th May, 2018 through 15th July, 2018. All applicants are advised to read carefully the guidelines and criteria for issuance of students’ loans and grants for the 2018/2019 academic year (Mwongozo wa utoaji mikopo na ruzuku kwa wanafunzi kwa mwaka wa masomo 2018/19).
Only Tanzanian Nationals are invited to apply to higher education loans, First Time Undergraduate Loan from Tanzanians admitted into Government of Tanzania-Sponsored or Self-Sponsored Programs in Public or Private Universities in Tanzania that are recognized by the Tanzania Commission for University (TCU).

2. Who will be eligible?

Government of Tanzania-Sponsored Undergraduate Students placed by Tanzniaa Universities & Colleges Central Placement Service and admitted by the universities.
Direct Entry Undergraduate Self-Sponsored Students.
Tanzanian student
Must be a continuing student who has passed the examinations necessary to enable him/her to advance to the next year or stage of study.
Eligible candidates are advised to visit HESLB website http://www.heslb.go.tz to familiarize themselves with OLAS before attempting to apply
Read the guidelines and criteria for issuance of students loans and grants for the 2018/2019 Academic year Click here
Also please look into the common application guidelines provided for different academic years would help : OLAS Guidelines

3. How do you apply?

Application for Higher Education Loan (OLAS) will be done through the OLAS website
Applicant will be required to Visit http://olas.heslb.go.tz/ to register.
Ensure to read and duly complete the HESLB Financial Literacy literature and guideline which is availabe here.
You will have to login by clicking the “Click here to Apply” option in the website.
Log in, select and fill in the 2018-2019 First Time undergraduate Loan Application Form from the HELB website.
Print out the application form and loan agreement appropriately and sign the same and attach necessary documentation.
Have the form appropriately filled, signed and stamped by the relevant authorities and guarantors.
Sign the form and attach all the necessary documents as indicated in the checklist appearing on the last page of the Loan Application Form and Guidelines.
Present one copy of the duly completed Loan Application Form and all the attached supporting documents to HESLB : You will be required to Upload it to the Higher Education Students Loan Board
Also, applicant are advised to maintain a copy of the application form and receipt used for mailing the application for subsequent purposes of tracking the application form.

For more details on the Instructions on how to use Online Loan Application System during the application proces click here

Remember: The HELB Loan Application process is free. Do not pay anyone to process your HELB Loan.

4. Is it compulsory to apply for a HESLB loan?

No. You should apply for HESLB loan only if you are in need of the funds.

5. What if I was awarded a loan but it is not enough, can I request for additional funds?

Yes, if you have a genuine need for additional funds, you can appeal amounts awarded to you by completing the appeal form.

6. If I discontinue my education, do I have to pay amount awarded to me even if I didn’t complete my education?

Once you are awarded a HESLB loan, you will be required to fully repay the amount in accordance with the terms & conditions as well as the interest accrued thereafter and penalties incurred (if any).

7. I have a sibling who didn’t qualify for HESLB loan. Can I share the amount I was awarded with him/her then we share repayment?

Tuition is disbursed directly to the loan applicant’s learning institution. However, any willing individual can help you repay your HESLB Loan.
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