Browsing: Recovery of student loans in Zambia

Zambian government has announced a reduction in interest rates on student loans from 15 percent to 10 percent, effective January 2024. www.theexchange.africa

Zambia reduces interest rates on student loans by 5 per cent

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  • The government has announced a reduction in interest rates on student loans in Zambia from 15 per cent to 10 per cent, effective January 2024.
  • The cost of pursuing higher education can be a significant financial burden for many students and their families.
  • In Zambia, there are several options. Universities are offering student loans to fund education, and one of the most common methods is through student loans.

In a significant move aimed at easing the financial burden on students, the Zambian government has announced a reduction in interest rates on student loans from 15 per cent to 10 per cent, effective January 2024. The announcement was made by Douglas Syakalima, Zambia’s Minister of Education, during a media briefing held on Monday, November 27, 2023, at his office.

The decision to lower the interest rates comes after extensive consultations between the government, facilitated through the Higher Education Loans and Scholarship …