HELSB Student Loan Repayment Calculator

HELSB student loan repayment in Tanzania

The Higher Education Students' Loans Board (HESLB) issues loans to qualifying Tanzanian students at universities and selected institutions. Repayment begins when the graduate enters formal employment, deducted at source by the employer at 15% of basic salary as the statutory rate. A 6% per-year value retention fee applies in lieu of interest, designed to preserve the loan's real value.

How repayment works

1. You graduate and start work.
2. Your employer registers you with HESLB and starts deducting 15% of basic salary monthly.
3. The deduction is remitted to HESLB and credited to your loan balance.
4. The 6% retention fee applies annually on the outstanding balance.
5. You can pay extra to clear faster — interest stops on the cleared portion.

How to check your balance

• Visit the HESLB portal at onlineloan.heslb.go.tz.
• Use your TIN, NIDA or HESLB Index Number to log in.
• Statement of account shows: principal, retention applied, total deducted, balance.

Pay-off strategies

• Top-up monthly: add even TZS 50,000–100,000 extra and you'll cut years off the term.
• Lump-sum from bonus: apply 13th-month pay or sales bonuses directly to the loan.
• Don't ignore it: defaulting affects your credit history and stops you from getting a passport renewal in some cases.

See the PAYE Calculator to model net pay after the 15% deduction, and the Full Payroll Calculator for total cost.