HELSB recovers K1.01 billion student loans
By Nyambe Nalishebo
The Higher Education Loans and Scholarships Board –HELSB- has recovered over One billion kwacha from former public university students between 2018 and 2026.
HELSB Corporate Affairs Manager CHISELWA KAWANDA says the amount reflects improved compliance and strengthened recovery systems.
Ms. KAWANDA says 789 former public university students have fully repaid their loans
She says the Board has also introduced flexible repayment terms, including a one-year grace period before repayment begins, as well as incentives for early settlement.
Speaking to ZNBC News, Ms. KAWANDA said HELSB has digitised the application process to reduce barriers for students and parents.
Meanwhile, Ms. KAWANDA said HELSB is considering expanding its loan scheme to private universities in order to promote equity in higher education financing, adding that discussions on extending loans to private institutions are ongoing.
She said such an expansion would require additional government funding, regulatory adjustments, and stronger accountability mechanisms.
Currently, the HELSB offers loans to students at 10 Universities.
These are the University of Zambia -UNZA, Copperbelt University -CBU, Kapasa Makasa University –KMU, Mukuba University, Mulungushi University, Chalimbana University, Kwame Nkrumah University, Palabana University, Levy Mwanawasa Medical University –LMMU- and Zambia University College of Technology.