The effectiveness of higher education student's loans board in financing higher education in Tanzania, a case study of Higher Education Students Loans Board
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Abstract
The study aimed at examining the effectiveness of Higher Education Students' Loans Board (HESLB) in financing higher Education in Tanzania. Yet, statistical data on higher education students' loan schemes, especially on expenditure and finance is scanty in Tanzania to establish the effectiveness of higher education student's loans' board in financing Higher Education. A case study of HESLB. Also the study focused on examining the role, level of effectiveness and problems facing Higher Education Students' Loans Board in financing higher education in Tanzania. The study involved 150 respondents from selected higher learning institutions in Dar es Salaam City who provided their opinions on the study theme. Both qualitative and quantitative methods were employed in data collection. Combination of both methods ensured methodological triangulation and maximized the quality of data collected. Qualitative data were analyzed using content analysis technique. Quantitative data were coded, and frequencies were calculated and presented in tables. The study findings show that the roles of HESLB is to issue loan to students in higher learning institutions in Tanzania, to upraise grade of loan to students, to recover loan from previous beneficiary students and promote higher education in Tanzania. M oreover, the study findings showed that the HESLB is not effective in financing higher education in Tanzania as argued by the majority of respondents. Finally, the study recommends that, for the HESLB to be effective there is a need to; identify those loaned by HESLB and then submit their names ready for automatic reduction or loan recovery. Also there is a need to establish good rapport between HESLB staffs, and to establish membership card that is linked with individual bank account for loan recovery as well as establishment of agency for loan recovery. It is further recommended to establish branches to other regions of Tanzania as means of decentralizing duties.