REF: EBS/Flash/02/2015                                                                             

GUARANTORS REQUIREMENT HAS BEEN REPLACED AND NEW LOANS LAUNCHED

A Resolution for removal of the requirement of Guarantors for the Higher Education Loan and replaced with Parents/Guardians undertaking was adopted at the recently held Supreme Council session in Mombasa.  The resolution reads as follows:

Be it resolved that effective 1st June 2015, students applying for Higher Education Loans will no longer require to provide two guarantors for their applications. The Student and Parent/Guardian will have to take an oath in writing to repay these funds as per schedule, with the Parent/Guardian taking on joint-responsibility. All Jamaats will endeavor to assist Africa Federation in processing applications, due diligence, disbursements, and follow-ups into all such loans.

The Education Board is empowered to put new processes and controls in place to accommodate this new policy, especially related to necessary measures that should be incorporated to deal with students who willingly delay or default on their repayment obligations.

The Education Board is hopeful that with the passing of this Resolution, students will be further encouraged to pursue tertiary education.

Post Graduate (PG) Loans – To promote Post Graduate studies Education Board has increased the amount for this loan to US $ 15,000 per annum for a maximum period of two years. The loan will be repaid over 3 years from the date of completion of study, and will include any existing loan plus the loan awarded for PG studies.
 
Grant for Talented students – In an effort to incentivize academically Brilliant/Talented students to pursue a University degree, the Education Board is offering a grant of US $ 5000 to those who qualify.  Please contact the Education Board Secretariat for the criteria to benefit from this grant.  It is applicable to the first year of study only, and can be used to supplement any funds required from the Higher Education Loan Program. 

THE CAREER EXPO 2015

The Development Society of Dar es Salaam organized a Career Expo on the 7th of June. The committee arranged for 12 professionals plus 2 General counselors to be at the event from which Hassan Dewji (EB Member) also participated and managed to see 32 students regarding their careers. The expo was also attended by EB Chairman Br. Samir Habib. The event was extremely well received and many of the participants felt such events should be held more often.



SECRETARIAT
EDUCATION BOARD OF AFRICA FEDERATION

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