Govt Releases 6th Cohort of Students Loan Beneficiaries, Number Drops to 1,800

State Minister for Higher Education, John Chrysostom Muyingo addressing reporters.

The Education Ministry through the Higher Education Student’s Financing Board (HESFB) has Tuesday released a list of successful students for loans to pursue higher education at both Universities and Other Tertiary Institutions.

This year, only 1,834 students have successfully been granted the loan compared to last year’s
2,943 students.

While addressing journalists at the Uganda Media Centre on Tuesday,
Rev. Fr. Prof. Callisto Locheng, the HESFB’s Chairperson noted that more female students have been granted loans this year.

“The number of released successful Loan Applicants is 1,834 representing a success rate of 25% of the applications received 1,216 (66%) being male while 618 (34%) are female. 1,464 are for undergraduate degree programmes and 370 are for diplomas. The total number of female successful applicants increased by 10% from 24% last year to 34% this year,” he said.

The Board called for loan applications on April 29 and at the closure on July 31, the Board received a total of 7,310 applications compared to 4,603 received in 2018/19 signifying a growth of 37% in the number of applications received.

“I am happy to report that all the districts from which we received applications have successful loan applicants. Therefore, the results present a National outlook and Regional balance. This time round, we didn’t receive applicants from the Districts of Amudat and Nabilatuk,” noted Rev Locheng.

HESFB was established in February 2014 with a mandate to provide loans and scholarships to Ugandan students to pursue higher education and in the past five years, 8,190 students have be given loans. This year’s enrolment has risen the number to over 10,000 students.

Loans are given to students who study from either a Public University or Chartered Private University and Other Tertiary Institutions offering diploma courses.

The number of Universities admitting students taking loans is 20 Universities this academic year 2019/2020 and a host of other diploma awarding institutions with the loan covering the students tuition fees, functional fees, research fees payable to Tertiary Institutions.

According to Rev Locheng, all successful Loan applicants shall be informed through SMS messages and the HESFB Website and other social media platforms today Tuesday and that they “shall be required to sign Loan Agreements with HESFB.”

“The Loan Agreements shall be dispatched to the Tertiary Institutions and administered by staff of Higher Education Students Financing Board,” he said.

While releasing the list, State Minister for Higher Education, JC Muyingo expressed government’s commitment in providing education to all Ugandans.

“I wish to congratulate the Board for hitting the 10,000 students mark as the 1,834 students loan awardees for the Academic year 2019/20 takes the total tally to 10,024 student loan awardees since 2014. This is a great milestone for the education sector and the NRM Government overall,” he said.

“We have noted that, many students are seeking for loans to enable them pursue Higher Education and this is displayed by increased numbers of applicants from 4,603 in the Academic year 2019/20 to 7,310 in this Academic year, a notable 34% growth”

“We shall continue increasing the number as approved in the Ministry Strategic Plan under the strategic objective of increasing access to education at all levels. To-date, the Board has disbursed Shs. 60.5 billion to 8,190 students and shall increase the funding to ensure that more students in the participating Universities and Other Tertiary Institutions also qualify so as to widen access and give a chance to more needy students to attain Higher Education,” Muyingo added.

He said he is pleased with the fact that the 370 of the awardees are undertaking diploma programmes across different disciplines.

Diploma programmes are mainly in the areas of Science and Technology, Health Sciences and Science in Education.

He explained that the Board has also awarded loans to 4 persons with disabilities to pursue humanity programmes.

“Persons with Disabilities were considered as a special group because of the eminent problems they go through to pursue sciences. This is a commendable job for which I applaud the Board. The Board has to-date in total awarded loans to 8,190 students from its inception who are spread across 20 Universities and 36 Other Tertiary Institutions,” he explained.

The Minister noted that a total of 1,700 students have so far completed the grace period and have started on the repayment of the loans.

“These are loans and must be repaid back to create a revolving fund in order for others to benefit. The Loan Scheme is one of the ways Government intends to reduce income inequalities and reduce poverty by supporting students to attain Higher Education and be productive in future. I would therefore like to call upon the loan beneficiaries to take their studies seriously and finish in time with excellent grades. This will enable them get jobs and be able to pay back the loans so that other needy students also benefit from the same funds,” he said.

He encouraged the loan beneficiaries to take their studies seriously and finish in time with excellent grades so as to get jobs and be able to pay back the loan and enable other needy students also benefit from the same funds.

Got Something To Say?

Leave a comment.

Your email address will not be published. Required fields are marked *