By Chisomo Phiri Phiri
The Higher Education Students’ Loans and Grants Board( HESLGB) has provisionally approved 26,000 needy students as beneficiaries of loans in accredited public and private institutions of higher learning in the 2023 to 2024 academic year.
Making the announcement during a press briefing in Mangochi, HESLGB Board of Directors spokesperson Henry Chingaipe said the selected students were part of 27, 079 students who applied for the loans from 37 public and private institutions.
He indicated that the figure is over 2,500 more students than those supported during the last academic calendar.
He said the board has set aside about K22 billion to cater for the students.
Chingaipe also announced the approval of about K651 million provisional budget to cater for Open Distance Learning (ODL) students, who are under a project called Skills for a Vibrant Economy (Save).
He said the successful applicants will be subjected to vetting and bonding process which is jointly carried out by the board and administrators of respective universities and colleges.
The loan fund primarily seeks to empower needy and derseving students from the disadvantaged background but also reduce enequalities in the long term.