The Ministry of Higher Education through the Higher Education Loans and Scholarships Board has recovered K8, 688,414.91 million from the loan recovery program that commenced in September 2018.
Ministry of Higher Education Public Relations Officer Chiselwa Kawanda said in September 2018, the Board recovered K2, 559, 545.69 and in October K3, 092,489.86 while in November a total of K 3, 036, 379.36 was recovered.
Ms. Kawanda said the loans were recovered from beneficiaries whose loans have matured since they left the University of Zambia and the Copperbelt University where they pursued various studies.
She said the beneficiaries have been captured on the Government payroll under Public Service Management Division.
Ms. Kawanda said the Ministry will start the loan deductions for those in the private sector this December month-end 2018.
She said major employers of the beneficiaries like Mopani Copper mines, UNZA, CBU, Zambia National Commercial Bank (ZANACO) and United Bank for Africa (UBA) already been engaged.
Meanwhile, Ms. Kawanda said a total of 7,741 students are eligible for support during the 2018/ 2019 academic at CBU Riverside Campus in Kitwe.
She said a total of 5,581 have successfully registered with the University and Higher Education Loans and Scholarship Board through the screening process that was conducted between 7th and 30th November 2018.
Ms. Kawanda said this means that 2,160 have not yet registered with the University and HELSB despite being awarded loans for the 2018/2019 academic year which commenced on 29th October 2018.