The Higher Education Students Financing Board (HESFB) has introduced loans to finalists who are financially struggling with cover University tuition.
This will start effective with 2021/2022 academic year.
While speaking to Journalists on Monday at Uganda Media Centre, Mr. Michael Wanyama, the executive director HESFB, said that they will be receiving applicants from final year students who need a financial intervention to finalize their programs of study.
The loan only covers the direct costs like tuition fees, functional fees, research fees, Aids and appliances for persons with disabilities.
He further revealed plans to support all students in subsequent years as funding grows.
Mr. Bob Nuwagira, the Head of communication and Public Relations said that the window for application for continuing students loan will open currently with the existing first year’s student loan opportunity in October 2021.
In the last 7 years, eligibility for the student loan scheme was open only to students joining in their first year of study. These would be funded till they finalize their studies.
Applicants intending to get funds for the academic year 2021/22 must be Ugandans in their final year of study, should demonstrate a financial need and offering programs and studying from private or public higher institutions of learning approved by HESFB.Special need students can access loans to pursue Business and Humanities programs.
A student loan beneficiary is expected to cater for their welfare expenses like accomodation, feeding, medical care and others.
The loan only covers the direct costs like tuition fees, functional fees, research fees, Aids and appliances for persons with disabilities.
Upon completion of studies, students are offered a grace period of 12 months after which the maximum repayment period is twice the study period.
