Section 6 of the HESLB Act No. 9 of 2004 provides functions of the Board as follows:-
(i) To assume responsibility for the control and management of all loanable funds as vested in the Board.
(ii) To formulate the mechanism for determining eligible students for payment of loans.
(iii) To administer and supervise the whole process of payment and repayment of loans
(iv) To keep the register and other records of students loan beneficiaries under the Board
(v) To advise the Minister on matters of policy and of the law concerning provisions and recovery of loans to students.
(vi) To establish operational links between the Board and higher
education institutions with student loan beneficiaries for facilitating a
smooth, efficient and effective administration of the loan funds
(vii) To establish operational links with employers of loan
beneficiaries for the purpose of facilitating the recovery of the loans
(viii) To establish networking and cooperation links on a mutually
beneficial basis with institutions and organizations, be they
governmental or non-governmental, local,foreign or international
(ix) To conduct research and maintain a data bank on other local and
external scholarships,sponsorships and awards that may be accessed by
Tanzanian students in need or in search of opportunities and financial
sponsorship or assistance for higher education and/or training.
(x) To ensure the overall efficient and effective implementation of the
provisions of the Act and of any such other written law concerning
Government loans and
(xi) To perform such other functions as are conferred upon the Board by or under the Act or any other written laws.
Source: HESLB Official Website