By Staff Reporter
Chairperson of Loans and Grants Disbursement Committee at Higher Education Students’ Loans and Grants Board, Dr. Henry Chingaipe says loans being disbursed by the board are subject to be paid back, not grants as other applicants presume due to misunderstanding.
Speaking on Friday during government faces the press at Central Office of Information, Dr. Chingaipe said the Board is yet to start giving grants to deserving students.
He then pleaded with students to always apply if they want loans as it is the only way in which one can access them.
Chingaipe announced that the trend for disbursement to applicants was at 90% in 2020-2021 academic year, and 95% in both 2021-2022 and 2022-2023 academic years.
He said in the stated years, the Board was funded K9 billion and disbursed K9 billion, funded K9 billion and disbursed K11 billion and was funded K12 billion and is expected to disburse K14 billion in 2022-2023 respectively.
The Committee Chairperson further explained that the board is getting additional financing for the loan fund through its investments on the money market and from loan recoveries.