Dar es Salaam. The Higher Education Students Loans Board (HESLB) will soon start to trace thousands of defaulters to recover Sh285 billion in unpaid loans.
The campaign will start next Monday and will involve tracing 119,497 defaulters who have already been identified.
HESLB director general Abdul-razaq Badru said at a press conference yesterday that the exercise would last three months and would target all debtors who were granted loans since the 1994/95 academic year when the board started operations.
In addition to tracing defaulters, HESLB will also start to audit payrolls of salaried staff countrywide to identify employers who were not submitting loan repayments.
“We are committed to ensuring that we crack down on all defaulters and employers who are not remitting their employees’ loan instalments. Our aim is to increase monthly collections from the current Sh13 billion to Sh17 billion by June 2018,” he said.
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