Higher Education Students Financing Board

HESFB Launches Student Loan Repayment Using MTN Mobile Money

The Higher Education Students’ Financing Board (HESFB) and Airtel Uganda, MTN Uganda have launched a payment system where you can pay your Student Loan Installment in any convenient place and instantly on your mobile or smartphone without having to wait in long bank hall queues. This development follows the network service provider issuing HESFB with Merchant Code: HESFB, for MTN Uganda which will be used by Beneficiaries in the repayment process. The process also includes a Beneficiary inputting their HESFB Number (e.g HESFB/2022/12345) or Full Names as the payment reference for system reconciliation. This payment process will be used by both Students and parents who are engaged in early repayment (payments made while still studying) and the Beneficiaries who are already in the Repayment window. How to make your Student Loan payments using MTN Mobile Money – Steps Dial *165#Select: PaymentsSelect: Goods and ServicesEnter Merchant Code: HESFBEnter Reference: HESFB No or Beneficiary’s Full NameEnter Amount: Loan InstallmentEnter Mobile Money PIN ORDIAL <*165*4*4#>Enter: Merchant Code>Enter Reference>Enter Amount>Enter PIN

HESFB Launches Student Loan Repayment Using Airtel Money

The Higher Education Students’ Financing Board (HESFB) and Airtel Uganda, MTN Uganda have launched a payment system where you can pay your Student Loan Installment in any convenient place and instantly on your mobile or smartphone without having to wait in long bank hall queues. This development follows the network service provider issuing HESFB with Business Number;1238512, for Airtel Uganda and Merchant Code: HESFB, for MTN Uganda which will be used by Beneficiaries in the repayment process. The process also includes a Beneficiary inputting their HESFB Number (e.g HESFB/2022/12345) or Full Names as the payment reference for system reconciliation. This payment process will be used by both Students and parents who are engaged in early repayment (payments made while still studying) and the Beneficiaries who are already in the Repayment window. How to make your Student Loan payments using Airtel Money – Steps Or DIAL *185*4*9# > Enter Business Number > Enter Amount > Enter Reference > PIN How to make your Student Loan payments using MTN Mobile Money – Steps Dial *165#Select: PaymentsSelect: Goods and ServicesEnter Merchant Code: HESFBEnter Reference: HESFB No or Beneficiary’s Full NameEnter Amount: Loan InstallmentEnter Mobile Money PIN ORDIAL <*165*4*4#>Enter: Merchant Code>Enter Reference>Enter Amount>Enter PIN

HESFB Board in Governance Training

The newly established Governance Board of the Higher Education Students’ Financing Board has successfully completed a three-day induction training at the Imperial Hotel in Entebbe. The event which was on 18th – 20th January, 2022 aimed at enlightening the new Board Members on issues of Corporate Governance, Strategic Governance and Crisis Management. The induction training conducted by ABS Consulting Ltd also aimed at enabling Board Members understand good corporate governance practices, appreciate responsibilities of Board membership, understand the role of Boards in strategy formulation and validation.  Board members were trained in appreciating the importance of working through Board committees and appropriate supervisory mechanisms of the Secretariat staff. The event was opened by the Permanent Secretary, Ministry of Education and Sports Mrs. Betty Lamara who congratulated the Board upon their appointment and welcomed them to the education sector.  She pointed out that governance is about guiding the organization and advised the Board to operate within the provided legislation and other guidelines. The Board Chairman, Eng. Dr. Charles Wana-Etyem affirmed that the Board had formed three key committees, including the Loans & Scholarship Committee, the Finance & Administration Committee and the Audit Committee. Dr. Wana-Etyem, who previously served as the Council Chairperson at Makerere University and Kyambogo University acknowledged the need for the Board to explore alternative sources of funding in order to increase the pool of resources available for the Students’ Loan Scheme. The State Minister for Higher Education, Hon. Dr. John Chrysostom Muyingo in his closing remarks, encouraged the Board think outside the Government funding and grow the fund to cater for the increasing number of applicants to the Students’ Loan Scheme. The training also included Top Management staff led by the Executive Director, Mr. Michael Wanyama.

List of Successful Students’ Loan Scheme Applicants for the AY2022/23 Released

The State Minister for Higher Education, Hon. Dr. John Chrysostom Miyingo has today released the list of successful Students’ Loan Scheme Beneficiaries for the Academic Year 2022/23. According to the Loan Award Report presented by the Chairperson Governance Board, Eng. Dr. Charles Wana-Etyem, the Board in received a total of 3,089 Loan applicants for the academic year 2022/23, representing a 51% reduction in the numbers compared to 6,256 applications received in the academic year 2021/22. Of the 3,089 received applications, only 2,417 (78%) were eligible into the Scheme. Of these 1,854 (77%) are male while 563 (23%) are female. Using the budgetary allocation of UGX 2.6 Billion, the Board was able to award financial support to 625 applicants, of which 418 (67%) are male while 207 (33%) are female. Out of the 625 successful applications, 518 (83%) are undergraduate Degree students, while 107 (17%) are undergraduate Diploma students.  Eng. Dr. Wana-Etyem said that the small number of diploma applicants was due to delay in the admission of students by the Joint Admissions Board. The Executive Director, HESFB, Mr. Michael Wanyama said that the Board sustained the affirmative action programme targeting female applicants and persons with disabilities where the Board gave a 7-point advantage to the female applicants and persons with disabilities. 23 Persons with Disabilities were selected to study various programmes in sciences and humanity programmes. Hon. Dr. Miyingo assured the Board of more funding to the Scheme. “We recognize that there is need for more funding to capitalize the Board as the current demand for student loans has certainly surpassed the available resources,” he said. “My Ministry will seek audience with our counterparts at the Ministry of Finance, Planning and Economic Development and colleagues in Parliament to lobby for increased funding for the Board.” Hon. Dr. Miyingo acknowledged that this year’s list of beneficiaries delayed due to extended processes of appointing a new Governance Board which was a prerequisite for the approval of the 9th cohort of beneficiaries. The List of Beneficiaries and the remarks for the Chairperson, Executive Director and the Minister are here by attached. Download the List Here>>> Students Loans Scheme Beneficiaries List for the AY 2022-23

Victoria University Joins the Students’ Loan Scheme

The Higher Education Students’ Financing Board (HESFB) has today, 19th September, 2022 signed a memoranda of understanding (MoU) with Victoria University, duly onboarding the latter to the Students’ Loan Scheme.   The signing of the MoU that was held at Victoria University’s main offices in Kampala follows the issue of Charter by the National Council for Higher Education (NCHE) on July 31st, 2022 and its subsequent approval by President Yoweri Museveni on August 19th, 2022. HESFB Executive Director, Mr. Michael Wanyama who signed on behalf of the Board congratulated Victoria University management upon attaining the Charter status and emphasized that this was a prerequisite for including Universities on the Students’ Loan Scheme. On his part, Prof. Lawrence Muganga, the Vice Chancellor, Victoria University commended the Students’ Loan Scheme as an important initiative to increase access to higher Education. “We have a big number of students with whom the Students’ Loan Scheme is going to be their only source of financing for their studies and this has come at the right time as we conclude the admissions process,” said Prof. Muganga Victoria University becomes the 13th private University to receive a Charter with the total reaching 23 Universities including 10 Public Universities. According to the Universities and Other Tertiary Institution’s Act (2001), a Charter is granted by the President as evidence that the University meets the requirements and standards of academic excellence as stipulated by the National Council for Higher Education (NCHE).

HESFB to Support Tourism and Hospitality Programmes

Kampala – July 12, 2022 The Executive Director, Higher Education Students’ Financing Board (HESFB) has announced that Tourism and Hospitality Programmes in Higher Education Institutions will be eligible for offer on the Students’ Loan Scheme. Mr. Michael Wanyama revealed this in a Press Release dated 18th July, 2022 just days before the Board opens the applications window for the AY2022/23. The Details from the press release below Press Release HESFB to Consider Tourism and Hospitality Management Programmes under the Students’ Loan Scheme Kampala – July 12, 2022 At the 30th meeting of the Higher Education Students’ Financing Board (HESFB) that sat on 31st March, 2022, Tourism and Hospitality Programmes were approved by the Board to be supported under the Students’ Loan Scheme. At the same meeting, the Uganda Hotel and Tourism Training Institute, Jinja, was approved to participate in the Scheme. The Tourism and Hospitality sector has been identified by the successive National Development Plans including the current NDP3 and Vision 2040, as one of the fundamental pillars of Uganda’s economy and key growth drivers with the greatest multiplier effect. In the pre-pandemic season, the sector growth had hit as much as 7.3% of GDP and 6.3% of total employment. Since inception, the Board has been supporting mainly Science, Technology, Engineering and Mathematics (STEM) programmes, except for Persons with Disabilities (PWDs) who can undertake any programme of their choice under affirmative action. These include 3,606 Health and Medical Professionals, over 3,600 in Engineering and Technology, 2,252 in Science Education, over 1000 in Agriculture and over 2000 in other natural sciences. The Board has also been offering other humanities programmes targeting PWDs including Bachelors of Speech and Language Therapy, Bachelors of Education (Special Needs Education) and Bachelors of Teacher Education with Special Needs under affirmative action. We hope that with the support to training in the Tourism and Hospitality sector, Uganda as a country will be able to achieve the target contribution of tourism to total employment from 667,600 to 1,100,000 people as anticipated by the NDP3. Following this release, Tourism and Hospitality programmes will be among the listed programmes in the oncoming Call for Loan Applications to the AY2022/23. Michael O. Wanyama (CPA) Executive Director

HESFB Awards 142 Under Appeals as AY2021/22 Support Reaches 1,592 Student Loans

Following the release of Lot 1 and Lot 2 successful Students’ Loan Scheme Applicants, the Higher Education Students’ Financing Board (HESFB) awarded study loans to a total of 1,530 successful students. On behalf of the Minister of Education & Sports, the Board received a total of 1,770 applications under “appeals” for reconsideration as stipulated by Section 21(5) of the Higher Education Students’ Financing Act, 2014. The 1,770 students required a total of UShs. 8,033,184,000 at a Unit Cost of UShs 4,500,000 per student per annum and the Board tendered a request for supplementary support of UShs 6.95 Billion from Government (Ministry of Finance Planning and Economic Development) through the Ministry of Education and Sports, which has not yet been considered. The Board therefore considered other sources of funding as stipulated below; A total of 80 students withdrew from the Scheme for various reasons, releasing a total of UShs 413 Million. 32 students changed Programmes and Institutions following their successful approval and the Board received a net saving of Ushs 28 Million. A total of 92 students of the 6th cohort (AY2019/20) withdrew from the Scheme, with Ushs 285 Million saved in unutilized funds. This totals to UShs 726 Million in mobilized funds which the Board considered for reallocation. This fund was only able to support a total of 142 students out of the total appeals of 1,770. All the students’ appeals were reconsidered in view of their Means Test Scores and the extra appended information. The new total number of Loan Scheme Beneficiaries for the AY2021/22 is now therefore 1,592 out of the 6,023 received applications. The new consolidated list of successful applicants (Lot 1, Lot 2 and Appeals) is available on our website, www.redesign.hesfb.go.ug/  The Board therefore congratulates all successful applicants and wishes you success in your studies. HESFB Staff will contact you for further guidance. CPA Michael O Wanyama       Executive Director Consolidated Students Loan Scheme Beneficiaries for the AY2021-22

List of Successful Students Loan Applicants for the AY2021/22 (Lot 2 Institutions)

The State Minister for Primary Education, Hon. Dr. Joyce Moricu Kaducu has this morning released the list of “Lot 2” successful Students’ Loan Applicants for the Academic Year 2021/22. Lot 2 includes applicants from Makerere University, Kyambogo University, Soroti University, Busitema University, Gulu University and the listed Diploma awarding Other Tertiary Institutions (OTIs) During the event hosted at the Uganda Media Center, Hon. Dr. Moricu congratulated the Beneficiaries and challenged them to work hard in their studies, remain disciplined and focused. “Remember that you are studying on credit and this should motivate you to pursue excellence in your studies such that this loan helps you achieve your career dreams and contribute positively to society,” said Dr. Moricu. In his report, the Executive Director, HESFB, Mr. Michael Wanyama said that in Lot 2, the Board received a total of 1,226 Loan applications and 198 were rejected as they were falling outside the eligibility criteria and 1,028 were processed. Out of the processed applications, the Board is awarded financial support to 610 successful loan Applicants that include 385 (63.1%) males while 225 (36.9%) are females. Mr. Wanyama while presenting the consolidated report highlighted that combining applications in Lot 1 and Lot 2, the Board received a total of 6,023 Loan applications from both Lots of applications, a total of 4,873 Applicants were appraised and found eligible for support. The remaining 1,150 applications were rejected as they were found to lie outside the eligibility criteria. Of the processed total of 4,873 applications, 3,528 (72.4%) were male applicants while 1,345 (27.6%) were female applicants. “Hon Minister, this means that this academic year 2021/22, the Higher Education Students’ Financing Board shall support a total of 1,530 students where 849 (55.5%) are males while 671 (44.5%) are females.”  In the AY2021/22 Government allocated funds to support 1600 Students under the Students’ Loan Scheme. Lot 1 institutions include; Universities All Listed Other Tertiary Institutions (OTIs) Download the List of Successful Students Loan Applicants for the AY2021/21

List of the Successful “Continuing Students” Loan Scheme Beneficiaries (AY2021/22)

The Higher Education Students’ Financing Board (HESFB) has this morning published the list of the 8th Cohort of successful applicants for study loans under the Students’ Loan Scheme for the Academic Year 2021/22 among them, the 1st Cohort of beneficiaries under the “Continuing Students Loan” product. In her speech representing the Board Chairperson, Mrs. Solome Luwagga, a Member of the Board of Directors said that in the FY2020/21, Government supported the Scheme with a startup fund of UGX 500 Million for the continuing students and that the Board approved that this resource be earmarked to support at least 100 final year students who were on the brink of dropping off yet they had reached the tail end of their education cycle. The Executive Director, Mr. Michael Wanyama said that the Board received only 130 eligible applications in this category and approved the award of Loans to 120 of these final year students. Of the 120 students, 85 (71%) are male while 35 (29%) are female.  “We applaud Government for realizing the appeals of the Parents and Students who withstood all odds to stay in school until this support came in time to bail them out. Hon. Minister, our desire and prayer is that more funds are allocated to this product in the subsequent years such that we are able to cater for all Continuing Students who encounter financial challenges at any stage of their education,” said Mr. Wanyama. The State Minister for Higher Education, Hon. Dr. John Chrysostom Muyingo officiated the release event that was held at the Uganda Media Center.

List of Successful Students Loan Applicants for the AY2021/22 (Lot 1 Institutions)

The State Minister for Higher Education, Hon. Dr. Chrysestom Muyingo has this morning released the list of the 8th Cohort of successful applicants for study loans under the Students’ Loan Scheme for the Academic Year 2021/22. The list includes successful applicants from “Lot 1” institutions who applied to study various Undergraduate degree and Undergraduate diploma programmes in 4 Public Universities and 12 Private Chartered Universities. During the event hosted at the Uganda Media Center, Hon. Muyingo congratulated Board members and secretariat staff at the Higher Education Students’ Financing Board (HESFB) for the tireless effort in processing the 8th Cohort of study loans under the Students Loan Scheme thereby supporting qualified but needy Ugandan youth to access higher education. In his report, the Executive Director, HESFB, Mr. Michael Wanyama said that this year’s list will be released in “lots” given that some institutions had delayed the admission process while in others students had commenced studies. According to the release report, the Board received a total of 4,797 Loan applications for Lot I institutions and of these 3,926 were appraised and found eligible for support. The remaining 871 applications were rejected as they were found to lie outside the eligibility criteria. Of the processed total of 3,926 applications, 2,856 (72.7%) were male applicants while 1,070 (27.3%) were female applicants.  “Lot I which we are releasing today, was allocated 920 students to utilize UGX. 3,802,500,000, of which 120 are finalist under the Continuing Students Loan, 735 are undergraduate Degree students while 65 students are pursuing undergraduate Diplomas. Of these 464 or 50.4% are males while 456 or 49.6% are females.” Mr. Wanyama said that ‘Lot II institutions’ will be allocated UGX 2,247,500,000 to support 380 undergraduate Degree students and 235 Diploma Students. In the AY2021/22 Government allocated funds to support 1600 Students under the Students’ Loan Scheme. Lot 1 institutions include; Download the List of Successful Students Loan Applicants for the AY2021/21