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Govt Starts Recovering Bursaries Money from Beneficiaries

The Ministry of Higher Education will start recovering money from beneficiaries of the bursary scheme from September 2018.

Higher Education Loans and Scholarships Board (HELSB) Director Ireen Chirwa has said that repaying of loans would help upcoming students also benefit from the scheme.

“This notice serves to inform all beneficiaries of the Student Loan Scheme which commenced in 2004 with students that have pursued studies at the University of Zambia and the Copperbelt University that the Higher Education Loans and Scholarships Board (HELSB) will start loan recoveries effective September 2018,” Chirwa said.

You are kindly informed that all loans will be recovered within a period of four (4) to Ten (10) years with interest calculated at 15% on reducing balances. Should you wish to repay your loans in a shorter period, please contact HELSB to arrange for your preferred repayment plan.”

She added: “By paying your student loan today, you will be supporting upcoming students in their quest to achieve their dreams.”

 

 

 

 

18 Comments

  1. Zumblood

    What about schools like Nkrumah university , students also need students loans.

  2. M.M.

    In the past, graduating students sponsored by the Government were automatically employed by the Government or parastatal organizations and were bonded for at least two years. That was another way of Government deriving benefits from sponsored students. It was not a loan scheme as such. What is happening at the moment is that once a Government-sponsored student has graduated, the Government does not employ them and, I doubt if they know where they are, or where they have been employed. Some of them remain unemployed for years. The question is: How will this loan recovery work?

  3. SUNRISE

    can’t the governvent provide such bursaries to even colleges? if the program is there in the schools,how do they repay?

  4. mukenga

    This could’ve worked beautifully years ago but now tracking would be hassle what with the paper work in shambles.

  5. james kaumba

    No kolopa doti com mwa of,how can u recover money to some one who is not yet employed? Kwena muleteka!!!! Do this Nation has a vision leader? Kkkkkkk !!

    • Hingrish

      Namutoba ifisungu ba Kaumba.
      It should read: DOES this nation HAVE. . . E lyo mwatwalilila. Mwaumfwa???

  6. Truth man

    When the Economy was liberalized like it was in MMD time ,all this shambles was unheard of !This is what I call,” Planning in Chaos “!! 😆

  7. Peter Julajula

    How when some of them are not even working? Am sorry!

  8. Diplomat

    mmmmmm you see that’s what happen when you have vision less youth who parades themselves as cadres without profit that’s bogus why getting money from people who you gave a loan n yet you haven’t even employed them what’s going on in this country no wonder 2021 I’ll vote wisely , all they know is taxes , loans selling government properties instead of creating jobs for people is Mr satas vision being followed no we need a proper Zambia

  9. Diplomat

    mmmmmm you see that’s what happen when you have vision less youth who parades themselves as cadres without profit that’s bogus why getting money from people who you gave a loan n yet you haven’t even employed them what’s going on in this country no wonder 2021 I’ll vote wisely , all they know is taxes , loans selling government properties instead of creating jobs for people is Mr satas vision being followed no we need a proper Zambia wake up Zambia its time to fight for our Rights

  10. Njelesani m

    Awee!! nombapa nichitsokonyo country.

    • Marvelous

      The government should provide same the bursaries to the colleges

  11. T

    And where these students get the money from?More Tax? Wrong timing PF.

  12. Mr dundumwenze

    But ichi chi government mwandini awe sure, are you trying to attract the students to vote for you or what?

  13. Bwana

    This is rotten, rubbish. Leaders without vision behave like that!! You never recover that money .It’s imppossible

  14. Chinks

    wat we need is to provide the same services to the new generation who need to acquire the same education, so that money it will help the new ones in sikus .To those who are not yet in employment sorry BT employed one need to pay the loan back so that everyone can benefit ,this is a good move by the govt.

  15. K M

    There is nothing for free in this life . This is just a good move if anything students will value education and also be responsible , instead of just wasting time. Zambia is all of us, so if Zambia fails it means we have all failed. My opinion is that jobs are there in zambia , the only reason jobs don’t seem to exist is becuase people are being employed in fields they did not trained for. Also as a remind the president is not the one who employs , We as a government are in positions that are responsible for hiring and majority of people in those positions are good at nepotism.Lets not make it look as if the president is the one who hires people. Maybe the people who hire are even living in your house. By the way they have not been given 1 year to pay they have been given over 10 years surely how ungrateful can one be .Let’s be honest there is only so much someone can do. Even parents do so much they cant take care of the children forever at some point you have to learn to survive on your own by using what you have. The problem is that people want a smooth life , even the lazy ones. Let’s not just criticize unnecessary simply because of politics which we don’t even fully understand. Some of you can’t even take care of the small family you have you want to blame someone for your laziness , You think running a country is easy.Lets learn to help and support each other if we want to succeed as a country.

  16. Sirafi

    This was long over due, we are only praying for prudent management of these funds so that we see students from colleges and other universities not yet on the scheme benefits also. It is a welcome move but increase on the recovery period 20 years.

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