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HESFB Launches Student Loans for Continuing Students

Kampala. August 30th, 2021, – The Executive Director, Higher Education Students Financing Board (HESFB), CPA. Michael Wanyama has today launched the Student Loan opportunity for continuing students.

Since 2014, eligibility to the Student Loan Scheme has been open only to students joining in their first year of study, at eligible universities, who are funded till they complete their studies.

Addressing journalists at the Uganda Media Center, Mr. Wanyama pointed out that the scheme has now been widened to include both new and continuing university students due to appeals by students, institutions, and the public. He explained that move is aimed at enabling continuing students who face financial challenges in the course of their studies to complete their education.

“In the FY2020/21, the Parliament of Uganda appropriated additional funding of UGX 500Million to cater for continuing students effective FY2021/22. Furthermore, in its 27th meeting, the Board approved to gazette this funding to start with Final year students who are struggling to finish their study programmes,” Mr. Wanyama said.

“The funds will be directed to the finalists in the 5th, 4th, 3rd, and 2nd year depending on the years of programme,” he explained, as he announced the commencement of the Continuing Students Loan facility ahead of a call for Student Loan applications in October 2021.

Ms. Miriam Nambooze, the Guild President Ndejje University who represented the student community at the launch expressed her appreciation to the Government of Uganda for extending this support to many stressed students who fail to finish their programmes of study due to tuition challenges, an issue she says was exasperated by the Covid-19 pandemic.

According to the 2016 ‘Africa Higher Education Student Survey Project,’ almost 30% of all students in Uganda, who join university education on various degree programmes in various universities, never finish their courses on time, or just drop out, the majority of whom fail to raise the required tuition fees.

The Higher Education Students Loan Scheme which has been in operation since 2014 has so far supported 11,184 beneficiaries in major STEM programmes including the training of over 3,000 Health and Medical personnel, over to 2,000 Science Teachers, 1,000 Agricultural Experts, and close to 3,000 Engineers among others. About 3000 Beneficiaries have since finished their studies, completed their one-year grace period, and are currently repaying their loans.

For more media enquiries, contact:

Bob Nuwagira

Head Communications & PR – HESFB.

bob.nuwagira@hesfb.go.ug .

+256782940384

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