Hello our Visitors,
My greetings from the Higher Education Students Financing Board (HESFB)
The Higher Education Students Financing Board (HESFB) or sometimes referred to as “The Board” operates this website as one of our numerous platforms to enhance communication and ensure smooth flow of information with you our stakeholders.
The Higher Education Students’ Financing Board is a semi-autonomous government body established in May, 2014 by an Act of Parliament HESFB Act No. 2 of 2014, with a mandate to provide financing for Higher Education in form of loans and scholarships.
The Board offers Loans and Scholarships to Ugandans who intend to pursue accredited courses of study or programme of Higher Education in accredited institutions of higher learning, recognized by National Council for Higher Education (NCHE).
The Board was primarily established to address the current problem of low participation rates at Higher Learning Institutions that stands at 6.1%, support the growing number of students who are completing Basic Education but are financially constrained to progress with higher education and also address the current inequity challenges as regards accessing higher education.
The Board is currently in its 8th year of operation and we have so far awarded loans to a total of 11,184 students (7,862 Male and 3,325 Female) in the last seven years. These include 9,632 Undergraduate Degree and 1,555 Undergraduate Diploma students.
The award of loans is based on the real need and in determining the eligibility into the Scheme, the Board considers the social economic needs, regional balance; gender and equity.
The Board currently targets Science Technology Engineering and Mathematics (STEM) programmes as these programmes offer employable and/or practical skills to the Beneficiaries that enable students to employ themselves after the period of study. As an affirmative action, only Persons with Disabilities (PWDs) are the only group allowed to apply for any other Programme in the Humanities and Economics fields.
The students are supported with funds to meet tuition, functional and research fees while the students meet the costs of accommodation, meals and other incidental welfare costs.
The maximum repayment period is twice the study period in addition to the grace period of one year. There is also room to negotiate favorable repayment terms, including early repayments.
The Board has inculcated good working relationship with a number of stakeholders especially the Higher Learning Institutions, Government Agencies, Employers’ bodies and students. The government is determined to increase access to higher education and has been increasing loanable funds over the successive years.
“The late Nelson Mandela once said, “Education is the most powerful weapon which you can use to change the world.” We aim to support students who will eventually add value to our beloved country Uganda.
Although the Board has made great strides in fulfilling its mandate, the demand for loans is overwhelming. Successful loan applicants have remained in the range of less than 30% of the applicants due to budget deficits.
I take this opportunity to welcome you to the HESFB website, www.hesfb.go.ug. I believe you will find the information listed very useful.
We stand and cherish our Motto, “Increasing Access to Higher Education.”
Michael O. Wanyama (CPA)
September 5, 2021