Board Claim K2 billion From Former Students on Higher Education Students Loan

Chipungu Board Chairperson 

The new Higher Education Students' Loan and Grants Board to start a repayment exercise for all former University of Malawi 'needy' students who never settled loans and grants obtained from students loan scheme.

The Board which has just begun functioning on Wednesday 12th August 2015 says a new committee has been set up to recover K2 billion from previous loan scheme. 

Chairperson for the Board, Geoffrey Chipungu disclosed that a lot of needy students who benefited from the loans disbursed since 1985 up to date, never repaid the money possibly "they did not know where to pay."

He said, the new board will do all it can to facilitate the repayment process and recover such outstanding loans.

"We have set up a committee" said Chipungu "This committee is chaired by quite an able member of the board and we will do everything." 

"We will look into all the logistics. It might not exclude publishing the names in the news papers. We hope will not go that far, and we expect that people are going to start repaying." said Chipungu



The Board which its main purpose is to manage and administer students loans and grants funds is mandated to recover outstanding loans that were granted to students under students loan schemes which were introduced in the 1985/1986 until the commencement of the Higher Educations Students Loans and Grants Act.



The Act section 4 (a-w) further empowers the Board to establish operational links with employers of loan beneficiaries for the purpose of facilitating the recovery of students loans.