We recovered MK722 million in student loan repayments from April to December in the 2024/2025 financial year.

A press release issued on February 13, 2025, indicates that the amount recovered is close to the MK748 million collected in the entire 2023/2024 financial year, demonstrating significant progress in loan recovery efforts.

HESLGB has since commended former loan beneficiaries, employers, and stakeholders for their commitment to fulfilling their obligations.

“HESLGB acknowledges the collaboration and support it receives from former loan beneficiaries, employers, and stakeholders, who voluntarily support the student loan repayment efforts,” reads the statement.

The board also reminded employers of their legal responsibilities under Section 29 of the HESLGB Act, 2015. Employers must confirm at recruitment whether an employee has a student loan, notify HESLGB within 30 days of hiring a loan beneficiary, and ensure that monthly repayments are deducted and remitted promptly. Employers who fail to comply may face penalties, including a MK1,000,000 fine for non-reporting and a 10% surcharge on delayed remittances.

HESLGB also urged all former loan beneficiaries to take responsibility for their repayments, as required under Sections 27 and 28 of the Act.