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Students tipped on loans applications

Higher Education Students’ Loans and Grants Board has advised public university students to provide complete and accurate information when applying for loans to avoid being excluded or experiencing delays in the facility disbursement.

Loans Board grants disbursement manager Abels Tembo said this on Tuesday at Malawi University of Business and Applied Sciences (Mubas) in Blantyre when the board briefed first-year students on the loan facility.

The front view of Mubas in Blantyre. | Nation

He stressed that incomplete or incorrect information provided during the loan application process often results in many needy students being excluded from the provisional list.

Tembo further said the Students Financing Management Information System (SFMIS) relies on sufficient and accurate data to identify needy and deserving students.

He said: “Failure to provide all necessary details makes it difficult for the system to recognise applicants as eligible beneficiaries.

“And ensure you fully describe your circumstances and attach all required documents to ensure you are not left out.”

Regarding delays in loan disbursement, Tembo said discrepancies in names on identity cards, incorrect bank account details, inactive accounts, or accounts not registered under the student’s name are significant contributors to the problem. He called on students to double-check their information to avoid unnecessary delays.

In her remarks, Mubas director of students affairs Gertrude Sitolo commended the board for conducting the orientation session.

She noted that the engagement had greatly benefited students eager to learn more about the board’s services and processes.

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