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.