HIGHER EDUCATION STUDENTS’ LOANS AND GRANTS

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

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…