HELSB Goes for More Ex-Bursaries Beneficiaries

The Higher Education Loans and Scholarships Board has traced over 11,876 loan beneficiaries employed by various institutions through the National Pensions Scheme Authority (NAPSA) system.

The Board has since recovered about over one million kwacha from beneficiaries of the bursary scheme employed by Mopani Copper Mines, Copperbelt University, University of Zambia, Zambia National Commercial Bank, United Bank of Africa, Zambia Revenue Authority and the Teaching Service Commission.

This is according to a statement issued to the media by Board Acting Communications Officer by Chiselwa Kawanda.

Kawanda said recoveries from beneficiaries who are employed in the private sector has commenced adding that beneficiaries who would like to settle their loans outside their employers’ payrolls are encouraged to contact HELSB to make payment plans to settle their loans.

She revealed that the Board had recovered over two hundred thousand kwacha from beneficiaries who had made one off payments in to the Revolving Fund Account.

“Some beneficiaries are no longer on the Government Payroll due to various reasons which include death, resignations and dismissals. This has resulted in a slight reduction on the amount being recovered through the Government Payroll,” she said.

She added that over 20,000 disbursed loans have matured and are due for recovery.