🎓 “Why the Student Loan Scheme in Zambia Could Make or Break Your Future” — Everything You Need to Know

✅ What is the Student Loan Scheme — who runs it

• The main body managing student loans in Zambia is the Higher Education Loans and Scholarships Board (HELSB). This institution replaced the old “Bursaries Committee” under the law established by the Higher Education Loans and Scholarships Act, 2016. (Helsb)
• The loan scheme is intended for undergraduate students admitted into recognised Zambian public universities or colleges. (Helsb)
• Institutions currently covered include (but are not limited to): University of Zambia (UNZA), Copperbelt University (CBU), Kapasa Makasa University (KMU), Mulungushi University (MU), Mukuba University, Chalimbana University, Kwame Nkrumah University (KNU), Zambia University College of Technology (ZUT), among others. (Helsb)
• Recently, the scheme was extended: from 2026, students at Levy Mwanawasa Medical University (LMMU) will also be eligible. (Diggers News)

📚 What the loan covers

If you get a loan from HELSB it can cover:

• Tuition fees. (Helsb)
• Accommodation fees (i.e. student housing) if needed. (Helsb)
• Meal allowance, book allowance, project or research allowance (for courses requiring projects), and other materials/allowances as deemed necessary. (Helsb)
• The scheme allows different levels of support depending on how much help you need — 100%, 75%, 50% or even 25%. Applicants indicate their need level and provide supporting proof. (Helsb)

Important: Getting admitted to a university does not guarantee you’ll get a loan. Awards depend on the Board’s capacity and applicant needs. (Helsb)

📝 How to apply

• Watch out for adverts from HELSB — they publish calls for applications when loans are open. These adverts specify what documents you need. (Zeyuni)
• Required documents typically include proof of admission/acceptance to a supported university, proof of recent secondary school completion, national ID, and supporting documents showing financial need or circumstances when applying for partial support. (Zeyuni)
• Once shortlisted, students must complete a verification/screening process. For first-year students, this includes authentication before funds are disbursed. (Helsb)
• Since 2025, HELSB has moved to a digital-application system to reduce long queues and delays previously experienced when applying in person. (Lusaka Star)

🔄 Loan repayment — when and how

• Repayment normally begins 1 year after you leave university or complete your studies (after a grace period). (Helsb)
• There are two main repayment methods:
  • Monthly Deduction Method (MDM): repay in monthly installments over a period (often up to 120 months = 10 years), at an interest rate of about 10% per annum (as of January 2024). (Helsb)
  • Offset Method (OM): settle the loan in a single lump sum — interest is only charged up to the month you repay. (Helsb)
• Borrowers are allowed to make additional (ad-hoc) payments aside from monthly instalments — these go straight to reducing the loan principal and don’t attract extra interest. (Helsb)
• Once the loan is fully repaid, you can request clearance from HELSB to confirm your status as debt-free. (Helsb)
• HELSB emphasizes repayments to sustain the loan fund so future students can benefit — non-repayment affects others. (Helsb)

🧩 Challenges, Critiques & What to Watch Out For

• A study on the scheme’s implementation found gaps: lack of rigorous means testing (i.e. making sure only needy students benefit), weak public awareness about the scheme, and insufficient tracking and repayment systems. (University of Zambia DSpace)
• Because eligibility and award depend on HELSB’s capacity, even qualified students may miss out. Admission ≠ guarantee. (Helsb)
• A recurring issue: sometimes students had to wait days in long queues for screenings — though this has improved since the shift to digital applications. (Lusaka Star)
• There’s public concern that if loan repayment is not enforced strongly, the scheme risks undermining itself — fewer repayments means less funding for future students. (University of Zambia DSpace)

🎯 Recent Updates & Expansion (2024–2026)

• As of November 2025, HELSB published additional provisional loan awards for the 2024/2025 academic year — thousands more students got support after appeals and reviews. (Helsb)
• The scheme is expanding: starting 2026, LMMU (Levy Mwanawasa Medical University) becomes eligible — making it the 10th public university under the loan scheme. (Diggers News)
• Partnerships with private organisations are emerging: e.g. a 2025 initiative between Konkola Copper Mines (KCM Plc) and HELSB awarded 64 student loans to academically strong but financially disadvantaged students via the “Scholastic Excellence Programme”. (Zambia Monitor | Zambia Monitor)

💡 What This Means for Students & Parents

• If you’re entering university — applying for the loan gives a real chance to cover tuition + living costs without dropping out due to finances.
• But don’t assume admission equals full support — submit solid proof of need if you want partial or full coverage.
• Plan ahead for loan repayment before graduating. Budget realistically, especially given the 10% interest. Use ad-hoc payments to reduce debt quickly.
• Keep track of HELSB’s adverts (website or announcements) so you don’t miss application windows.

🔗 Key Links & Resources

• HELSB official site (apply, check loan status, repayment info): helsb.gov.zm (Helsb)
• Recent news on loan awards and expansions (2025 update): HELSB news & updates. (Helsb)
• Research on strengths & weaknesses of the loan scheme: study by (University of Zambia / HELSB) (University of Zambia DSpace)