HELSB and Northrise University Ink Landmark Student Loan Agreement
In a move set to redefine student financing in Zambia, the Higher Education Loans and Scholarships Board (HELSB) and Northrise University (NU) have officially signed a Memorandum of Understanding (MoU) to establish a specialized student loan and scholarship sub-fund.
This partnership, announced on March 19, 2026, marks a “national first.” For the initial time, a private higher education institution is committing its own internal resources to a sustainable, revolving financing scheme managed under national oversight.
The agreement creates a co-financing framework where Northrise University provides the capital, while HELSB acts as the Fund Manager and Custodian. HELSB will oversee the critical administrative lifecycle of the fund, including:
- Application processing
- Fund disbursement
- Loan recovery and management
Dr. John Machayi, CEO of HELSB, described the initiative as a “strategic shift,” noting that the model successfully integrates private institutional capital into a structured national framework.
The sub-fund is designed to support high-performing but financially disadvantaged students. The program will specifically target full-time undergraduate students enrolled in high-impact fields, including:
- Engineering
- Nursing
- Computer Science
- Information Technology
In a push for social equity, the board confirmed that female students and those hailing from underserved rural areas will be given priority during the selection process. Once fully operational, the fund is expected to support a minimum of 50 students annually.
The loan structure is designed with student sustainability in mind, featuring several protective measures.
Northrise University Vice Chancellor, Dr. Lameck Mwewa, emphasized that the university’s decision to commit its own resources is a deliberate step to widen access to quality education.
“This partnership reflects our belief that private universities must play an active role in creating opportunities for capable students and supporting national development priorities,” Dr. Mwewa stated.
As the 2026 academic year progresses, this model is expected to serve as a replicable blueprint for other private-public collaborations within Zambia’s burgeoning tertiary education sector.