List of Successful Students’ Loan Scheme Applicants for the AY2024/25 Released
The Higher Education Students’ Financing Board (HESFB) has announced the beneficiaries of the 2024/25 Academic Year under the Students’ Loan Scheme. The announcement, made by the State Minister for Higher Education, Hon. Dr. John Chrysostom Muyingo, marks a significant step toward increasing access to higher education in Uganda. According to the Loan Award Report presented by Eng. Dr. Charles Wana-Etyem, Chairperson of the HESFB Governance Board, said that 6,661 applications were received this year, up from 1,921 the previous year, indicating a 246% growth in demand. Of these applications, 3,781 (56.8%) were deemed eligible, while 2,880 were rejected due to various eligibility issues. This year’s funding of UGX 7.25 billion has enabled HESFB to support 1,838 students, representing 27.6% of all applicants. Notably, the proportion of female beneficiaries has risen to 43%, with 790 female students receiving loans compared to 26% in the previous year. The Executive Director, Michael Wanyama, highlighted this as a historic achievement, surpassing the 30% affirmative action threshold previously set for female applicants. Among the beneficiaries, 1,372 students (74.6%) will pursue undergraduate degree programs, while 466 (25.4%) will enroll in diploma courses. The Board continues to prioritize affirmative action, awarding loans to 29 Persons with Disabilities (PWDs)—18 males and 11 females—allowing them to pursue both science and humanities programs. Minister Muyingo emphasized the importance of vocational and STEM (Science, Technology, Engineering, and Mathematics) programs, noting that these fields are vital for addressing Uganda’s economic and developmental needs. He also reaffirmed the government’s commitment to securing additional funding to meet the growing demand for student loans. Permanent Secretary, Ministry of Education and Sports, recognized the crucial role of the scheme in bridging the gap created by other successful government education initiatives like UPE and USE. Since its inception in 2014, the loan scheme has supported 16,437 students, an impressive milestone for Uganda’s education sector. To ensure equitable access, the Board applied a three-tier selection process, which includes assessing applicants based on their socio-economic vulnerability, regional balance, and district quotas. As a result, every district in Uganda is represented among the beneficiaries. This year, districts like Amudat, Buvuma, and Kotido, which historically had low participation rates, saw students receive loans. The Executive Director also praised the fully online application process, which has streamlined operations, reduced costs, and improved data accuracy. The digital approach allows students from across the country to apply without incurring transportation costs. Both Hon. Dr. Muyingo and Eng. Dr. Wana-Etyem called upon loan beneficiaries to take their studies seriously, reminding them that the loans must be repaid to ensure the sustainability of the revolving fund. Repayments will enable future students from underprivileged backgrounds to also benefit from the scheme. HESFB continues to collaborate with various stakeholders, including the Ministry of Finance, to secure increased funding in future years to support more learners. The List of Beneficiaries and the remarks for the Chairperson, Executive Director, Permanent Secretary and the Minister are hereby attached. Download the List Here>>> Students Loans Scheme Beneficiaries’ List for the AY 2024/25
How to apply for a Student Loans Appeal or Change your Course/Institution
TO BE COMPLETED BY ALL STUDENTS APPEALING THE DECISION OF THE BOARD FOR STUDENTS’ LOAN UNDER SECTION 21 (5) OF THE ACT CAUTION: Change of Course/Institution Guidelines Pursuant to Section 16(5) of the Higher Education Students’ Financing Act, 2014, a successful Students’ Loan Scheme beneficiary is allowed to Change Course/Programme or Change Institution of Higher Learning.The guidelines on Change of Course and/or Institution are; Bank Account Number Account Name DFCU Bank 01363669053643 HESFB Loan Application Fee Centenary Bank 3740300006 HESFB Loan Application Fee