The Higher Education Students Loan and Grants Board (HESLGB) has recovered loans amounting to K1.24 billion from former student beneficiaries of the funds in the 2024/25 financial year.

A report on the student’s loan recovery for the year indicates that the amount is 65 percent higher compared to K748.6 million that was recovered in the 2023/24 financial year, adding that this is the highest the amount recovered since the establishment of the board ten years ago.

The board’s Executive Director, Prince Phwetekere, has attributed the growth to the collaboration and support received from former beneficiaries and employers who facilitated the student’s loan repayment.

"HESLGB acknowledges the collaboration and support it receives from former beneficiaries and employers who have played a vital role in facilitating student loan repayments," reads part of the statement.

An educationist, Wesley Mwambakulu, while commending the institution for the efforts made, has asked stakeholders to ensure former students repay the funds so as to benefit new needy students.

"This is a very good development for those that have just applied for the loan this year," said Mwambakulu.

He has asked stakeholder to ensure former students give back the funds so as to benefit new beneficiaries.

"There has to be messures set aside to ensure that the former students give back the loans," he added.