QR Code: fWXQlRbaZ0

This performance audit aimed to assess whether the Higher Education Students’ Loans Board has managed the collection of loan repayments from beneficiaries to ensure the fund’s sustainability. 

The audit found an unsatisfactory collection of matured beneficiaries’ loans, inadequate forecasting of loan repayment targets, insufficient tracing of loan beneficiaries, inadequate management of bills and existence of non-compliance by employers. The audit recommended that HESLB configure ILMS by performing age analysis, defining loan beneficiaries who defaulted in days or months, setting performance indicators, developing a forecasting model, establishing cost-effective tracing strategies and Integrating ICT systems.