Students who don’t pay back their Higher Education Loans will now be listed as defaulters in Malawi’s credit reporting system — making it harder for them to get bank loans.
The Higher Education Students’ Loans and Grants Board (HELSGB) says the move targets former beneficiaries who are financially able to repay but haven’t done so.
Once listed, defaulters could also face limits on accessing certain public services until they clear their balances.
HELSGB says repayments are vital since every loan paid back helps fund another student’s education.
