Govt approves study loans for 920 students

study loans

The Government has approved study loans for 920 students across the country.

The ministry for Higher Education institutions together with the Higher Education Students’ Financing Board (HESFB) released the List of 8th Cohort of Successful Applicants for Study Loans for the Academic Year 2021/22 on Monday.

The 10th Parliament appropriated shs 500 Million to cater for continuing students effective FY 2021/22.

The board received a total of 4,797 loan applications for lot one institutions and of these 3,926 were appraised and found eligible.

For financial support therefore the ministry is awarding financial support to 920 students out of the 4,797 received applicants of these, 464 or 50.4% are males while 456 or 49.6% are females, Wanyama noted.

The board made the call for loan applications to the 8th Cohort under the Students Loan Scheme on 11th October 2021 and closed on 30th November 2021.

However, according to Michael Wanyama the executive director HESFB at the end of the application window, only 4 Public Universities (Muni University, Mbarara University of Science and Technology, Kabale University and Busitema University) and all the Private Chartered Universities had completed the admission process.

Wanyama added that the board extended the loan application period for the 5 public Universities including Makerere, Kyambogo, Soroti, Lira, and Gulu Universities plus the other Tertiary Institutions.

” We set 15th January 2022 as a deadline therefore we are glad today to officially release the list of Lot I for successful loan applicants for the academic year 2021/22,” Wanyama said.

The government of Uganda through the Higher Education Students Financing Board has continued to support parents who find difficulties in raising fees for their children to access higher education.

According to the state minister of education in charge of higher education, Chrysostom Muyingo, the Government has opened up the landscape of higher education where to date there are 10 public universities and 34 Private Universities and a host of both public and private Other Tertiary Institutions are now over 220.

Muyingo explained that there is increased demand for loans by the girl child which he said has greatly enabled the girl child to access higher education.

” You know, when you educate a girl child you educate a nation therefore I thank the Board for ensuring gender equity which is a great milestone for the girl child doing science programmes which were formerly dominated by male,” Muyingo said.

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