DAR ES SALAAM.
The Higher Education Student Loans Board has planned to spend a total of Sh570 billion in the new financial year 2021/2022 instead of the Sh500 billion which was announced previously. The money will benefit at least 160,000 who will apply on loan.
The government had announced an increase in the loan funds from Sh464 billion in the 2020/21 financial year to Sh500 billion for the 2021/22 financial year. However, launching the new loans application guide for 2021/22 and the loan application window, the minister for Education, Science and Technology, Prof Joyce Ndalichako, revealed that President Samia Suluhu Hassan had added Sh70 billion to the Sh500 billion initially intended.
This is according to Prof Ndalichako was to cater for the increase of more than 10,000 students this year.
SOURCE: THE CITIZEN.