FIRST BATCH OF LOAN BENEFICIARIES WHO HAVE NOT STARTED TO REPAY THEIR LOANS
The Higher Education Students’ Loans
Board (HESLB), hereby notifies all loan beneficiaries who are not
servicing their loans and whose names appear herein that they have
breached a contract as per the HESLB Act. No. 9 of 2004 (as amended)
Section 19 (1).
These Loan Defaulters are further
notified that according to HESLB Act No. 9 0f 2004 the Board, intends to
take the following steps: -
(i) Shall be liable to legal action as per Section 19 (a) (1) of the HESLB Act.
(ii) Shall be subjected to additional
monthly Penalty of 5% p.a. on the outstanding loans, over and above the
5% that was levied earlier.
(iii) Shall have his/her outstanding loan loaded with the cost of tracing that will be charged after being traced by the Board.
(iv) Shall be blacklisted and his/her
information shall be submitted to the Credit Reference Bureaux,
following which they shall be barred from access to credit facilities
from all Financial Institutions.
(v) Shall be barred from securing
Government scholarships or admission for Postgraduate studies in any
Higher Learning Institution within and outside the country.
(vi) Their details shall be submitted to
the Ministry of Home Affairs, Department of Immigration and all
Embassies where they will be denied approval for travelling abroad.
All Loan Beneficiaries whose names have
been published in the newspapers and on this website of the Board
through http://olas.heslb.go.tz are required to repay their due loans
immediately to avoid facing the above listed measures. Loans statements
and other details of their due loans can be accessed by visiting HESLB
Offices or writing to:
Acting Executive Director,Higher Education Students’ Loans Board,
P.O. Box 76068
Dar es Salaam
Email: info@heslb.go.tz
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