CHAPTER 30:14
HIGHER EDUCATION STUDENTS’ LOANS AND GRANTS

ARRANGEMENT OF SECTIONS

   SECTION

PART I
PRELIMINARY

   1.   Short title

   2.   Interpretation

PART II
ESTABLISHMENT OF HIGHER EDUCATION STUDENTS’ LOANS AND GRANTS BOARD

   3.   Establishment of the Board

   4.   Functions and Powers of the Board

   5.   Composition of the Board

   6.   Tenure of office and vacancies

   7.   Committees of the Board

   8.   Meetings of the Board

   9.   Invited Persons

   10.   Disclosure of interest

   11.   Non-liability of members

   12.   Allowances and expenses of members

   13.   Reporting and policy direction

   14.   Delegation of powers by the Board

PART III
MANAGEMENT OF THE BOARD

   15.   Executive Director and Deputy Executive Director of the Board

   16.   Termination of service of the Executive Director or Deputy Executive Director

   17.   Duties of the Executive Director

   18.   Appointment of other employees of the Board

   19.   Disciplinary authority

PART IV
ESTABLISHMENT OF THE HIGHER EDUCATION STUDENTS’ LOANS AND GRANTS FUND

   20.   Establishment of the Fund

   21.   Revenue and expenditure of the Fund

   22.   Annual Estimates of the Fund

   23.   Accounts and audit of the Fund

PART V
GRANTING OF STUDENTS LOANS, STUDENTS GRANTS, ELIGIBILITY AND OBLIGATION

   24.   Eligibility for student loans or student grants

   25.   Provision of student loans or student grants

   26.   Conditions for providing student loans or student grants

   27.   Liabilities and obligations of a loan beneficiary

   28.   Failure to repay a student loan

   29.   Responsibilities of an employer

   30.   Penalty for failure to notify the Board and for delayed remittance

   31.   Obligations of a guarantor

   32.   Waiver or deferment of student loan repayment

PART VI
FINANCIAL PROVISIONS

   33.   Annual estimates

   34.   Accounts and Audit

PART VII
MISCELLANEOUS PROVISIONS

   35.   Laying of reports before the National Assembly

   36.   Oath of Secrecy

   37.   Confidentiality

   38.   Regulations

      SCHEDULE

2 of 2015
G.N. 11/2015

An Act to make provision for the establishment of the Higher Education Students’ Loans and Grants Board; for the establishment of the Higher Education Students’ Loans and Grants Fund; for the procedure and criteria for granting student loans and student grants; and for matters incidental thereto and connected therewith

[1ST JUNE 2015]

PART I
PRELIMINARY

1.   Short title

   This Act may be cited as the Higher Education Students' Loans and Grants Act.

2.   Interpretation

   In this Act, unless the context otherwise requires—

   "accredited institution" means an institution of higher education in Malawi which is accredited under the National Council for Higher Education Act;

   "Board" means the Higher Education Students’ Loans and Grants Board established under section 3;

   "Chairperson" means the Chairperson of the Board appointed pursuant to section 5, and includes any person acting in that capacity;

   "committee" means a committee of the Board;

   "eligible student" means a student who is eligible to receive a student loan or a student grant under this Act;

   "employer" means an employer of a loan beneficiary and includes the Government;

   "Executive Director" means the Executive Director of the Board appointed under section 15;

   "Fund" means the Higher Education Students’ Loans and Grants Fund established under section 20;

   "grant beneficiary" means a student who has received a student grant under this Act;

   "higher education" means the education provided at the level of Degree or Advanced Diploma;

   "loan beneficiary" means a student who has been granted a student loan under this Act;

   "member" means a member of the Board or of a committee of the Board and includes a member’s designated representative;

   "student" means any person admitted to an accredited institution;

   "student grant" means money awarded to a student by Government to enable the student to meet all or any of the students’ cost of higher education with no requirement for the student to repay the money to Government; and

   "student loan" means money awarded to a student by Government to enable the student to meet all or any of the students’ costs of higher education and which the student will be required to pay back to Government.

PART II
ESTABLISHMENT OF HIGHER EDUCATION STUDENTS’ LOAN AND GRANTS BOARD

3.   Establishment of the Board

   There is hereby established a Board to be known as the Higher Education Students' Loans and Grants Board (in this Act hereinafter referred to as the "Board") which shall—

   (a)   be a body corporate with perpetual succession and a common seal; and

   (b)   be capable of doing all such other things or acts which may lawfully be done or performed by a body corporate.

4.   Functions and Powers of the Board

   The functions and powers of the Board shall be to—

   (a)   control and manage the Fund;

   (b)   receive and consider applications for student loans and student grants from students;

   (c)   determine the maximum number of eligible students to be granted student loans and student grants in any one particular year;

   (d)   administer and supervise the process of payment of student loans and student grants, and repayment of student loans;

   (e)   keep a register and other records of loan beneficiaries and grant beneficiaries;

   (f)   advise the Minister on matters of policy and law concerning the grant of student loans and student grants, and recovery of such student loans;

   (g)   establish operational links between the Board and accredited higher education institutions for facilitating a smooth, efficient and effective administration of student loans and student grants;

   (h)   establish operational links with employers of loan beneficiaries for the purpose of facilitating the recovery of student loans;

   (i)   establish and maintain links with other persons, bodies or organizations within or outside Malawi, as the Board may consider appropriate, for the furtherance of the purposes for which the Board is established;

   (j)   conduct research and maintain a databank on other local and external scholarships, sponsorships and awards that may be accessed by students;

   (k)   notwithstanding the Limitation Act, with the assistance of the students' respective employers or otherwise in accordance with the provisions of this Act, recover outstanding loans that were granted to students under students' loan schemes which were introduced in the 1985/1986 until the commencement of this Act;

   (l)   approve staff establishment and development plans;

   (m)   consider and approve the annual estimates of the Fund submitted by the Executive Director;

   (n)   monitor and review financial statements and authorize expenditure;

   (o)   appoint independent auditors for the Board;

   (p)   appoint committees of the Board;

   (q)   appoint employees of the Board and determine their terms and conditions of service;

   (r)   formulate and implement financial policies of the Board;

   (s)   with the approval of the Minister and subject to the Public Finance Management Act, borrow money for the furtherance of the objectives of the Act;

   (t)   receive gifts, donations or grants from any person, organization or body within or outside Malawi, for the furtherance of the objectives of this Act;

   (u)   demand and receive fees for services rendered to other institutions by officers and other employees of the Board;

   (v)   ensure the overall efficient and effective implementation of the provisions of this Act; and

   (w)   do such acts or things provided for in this Act or any other written law which may, in the opinion of the Board, be necessary for the proper exercise of the functions of the Board.

5.   Composition of the Board

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