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Loans board to support close to 30,000 students with tuition fees

The Higher Education Students Loan and Grants Board (HESLGB) has said it is expected to support not less than 29,000 students with tuition fee loans.

Henry Chingayipe, the spokesperson for HESLG Board of Directors made the statement when he briefed the press in Salima on Friday.

The loans board has also adjusted the student upkeep loan amount from K350,000 to K560,000 per year representing a 60 percent increase.

According to the board, 20,000 public university students will obtain the revised upkeep loans in 2024/2025.

The board adjusted the upkeep loans following a directive by President Dr. Lazarus Chakwera to the Ministry of Education and the Higher Education Students Loan and Grants Board to review the amount considering the rising cost of living and studying.

“This increase translates that every upkeep loan beneficiary will be getting a total of K280,000 per semester translating into  K70,000 per month,” said Chingayipe.

The board has also announced the adjustment of the loan application fee from K5,000 to K7,500.

Meanwhile, the 2024/2025 loan application window will be open from May 1st to June 30, 2024, with applications being accepted online only.

 

Reported by Doreen Sonani

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