By Leonard Kamugisha Akida,
KAMPALA
The Higher Education Students Financing Board (HESFB), has announced that a total of 1,838 students have been selected to benefit from the student’s loan scheme for the academic year 2024/25.
According to Micheal Wanyama, CPA, Executive Director of HESFB, for 11th cohort, the board received a total of 6,661 loan applications of which 2,880 were rejected due to ineligibilities leaving only 3,781 applications to be reviewed for selection.
“Of this, a total of 1,838 applications were successful within the available resource envelope of UShs 7.25 billion meant to support the first years. On average we shall support only 27.5% of the applicants,” said Wanyama.
He said the 72.5% of the applicants were not successful due to limited resources.
“The number of young people who need the loan is more than the number of the loan opportunities available, hence many needy applicants do not get the chance to be funded,” he said.
Charles Wana-Etyem, Chairperson of HESFB disclosed that of the total 1,838 approved loans (representing a success
rate of 27.6%), 1,048 (57%) are male
while 790 (43%) are females. They include 1,372 admitted to Degree programmes and 466 who are going to pursue Diplomas. Additionally , a total of 29 learners with disabilities including 18 males and 11 females have been approved to benefit from this program. The board recorded an increase in the number of female applicants benefiting from the student’s loan scheme rising from 317 last academic year to 790 this academic year.
Accordingly, the board used the district quota system to award these loans to ensure regional balance. The board chairperson, added that districts which did not have any applicant last academic year such as Buvuma, Madi- Okolo, Kapelbyong, Kaabong, Kiryandongo, Amudat and Lyantonde presented learners for support this academic year.
“Each part of the country has got an appropriate share of representation with emphasis on regional balance.” Charles Wana-Etyem explained.
John Chrsystome Miyingo, the minister of state for higher education who represented the minister of education and sports, Hon. Janet Kataha Museveni said the government is committed to increase funding for student’s loan scheme to enable students from less privileged families to equitably attain higher education.
It is also a clear demonstration of the Government commitment of increasing the education levels in the Country. These students would not have attained their education dreams if it wasn’t for the
government deliberate intervention of helping the poor parents.
“The Ministry of Education and Sports has noted that many students are
seeking for loans to enable them pursue Higher Education and this is displayed by increased numbers of applicants standing at 6,661 this Academic year,” Miyingo said ” We shall continue to increase the number of successful loan applicants as approved in the Ministry Strategic Plan under the broader strategic objective of increasing access to education at all levels.”
Minister Miyingo said the loan scheme is one of the government interventions to reduce income Inequalities and reduce poverty in families with students who cannot afford higher education. He urged beneficiaries of this program to endeavor to repay their loans to enable other students from poor families access affordable and equitable education.
“As the learners take on the student Loans, I want to remind them that these are loans, it’s not a “thank you for Kalulu” it’s not grants or bursaries. This is money that ought to be repaid back to create a revolving fund so that more learners are supported using the same
funds,” minister Miyingo explained.
