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.”