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Wednesday, February 8, 2023

STUDENTS’ LOAN SCHEME GUIDE: Here’s How to Apply for Study Loans for the Academic Year 2021-2022

The Higher Education Students’ Financing Board (HESFB) has made a call for students’ loan applications for the Academic Year 2021/22 under the Students’ Loan Scheme.

Thousands of loans are up for grabs and the Board’s Executive Director Michael Wanyama has issued the following guidelines:

The Higher Education Students’ Financing Board (HESFB) has since 2014 been implementing the Students’ Loan Scheme, where highly qualified Ugandan students who may not afford Higher Education are offered Student Loans in a bid to increase access to Higher Education.

The Higher Education Students’ Financing Board disburses fees to the successful Needy Students on a straight line basis and upon Completion of Studies, they are offered a Grace Period of 12 months after which the maximum repayment period is twice the study duration.

The Scheme has added to the national stock of applied scientists in the four major areas of the Economy where in Health, the Scheme has supported the training of over 3,000 Health and Medical personnel, over to 2,000 Science Teachers, 1,000 Agricultural Experts and close to 3,000 Engineers among others.

The Board has so far awarded loans to a total of 11,187 Beneficiaries (9,632 undergraduate degrees and 1,555 undergraduate diplomas) Beneficiaries to study 130 degree programmes and 76 undergraduate diploma courses mainly in Science, Technology, Engineering and Math (STEM) programmes.

These are programmes which have been identified in the subsequent National Development Plans as essential for National development and critical in filling the current human resources gaps in the country.

Persons with Disabilities can access loans to pursue any accredited programme of their choice including Business and Humanities Programmes under affirmative action.

These courses are currently tenable at 22 Chartered Universities (10 Public and 12 Private Chartered Universities) and 36 Other Tertiary Institutions (OTIs) in Uganda.

The Board with funding from Government of Uganda has set aside Shs6bn to support 1,500 new cohort of student loan beneficiaries and at least 100 Continuing students in the Academic Year 2021/22.

I therefore announce to all prospective applicants that the Board is now open for applications for the 8th Cohort of the study loans under the Students’ Loan Scheme from eligible Ugandan students who have been admitted under the listed Undergraduate Diploma and Degree programmes for the Academic Year 2021/22 in the Public Universities, Private Chartered Universities and the listed Other Tertiary Institutions.

APPLICATION INFORMATION AND TERMS

  • The Students’ Loan shall cover tuition fees, functional fees and any other fees required by the Higher Learning Institutions.
  • The loan shall also cover Aids and Appliances for Persons with Disabilities. A Beneficiary is expected to cover their welfare expenses.
  • Student loans shall strictly be awarded to students joining Higher Education Institutions in First Year or students joining their Final Year of study under the Continuing Students Loan facility which commences this Academic Year.
  • An applicant MUST not be a beneficiary of any other Scholarship or Funding Opportunity
  • The Loan Application process is solely online and is available through our website http://www.hesfb.go.ug
  • Applicants who may encounter challenges could visit HESFB Application Support Centres at; Muni University, Gulu University, Uganda Technical College Lira, Soroti University, Islamic University in Uganda – Mbale, Busitema University, Jinja District Offices, Kyambogo University, Ndejje University – Kampala Campus, Makerere University, Masaka School of Nursing, Bishop Stuart University, Kabale University, KIU – Ishaka Campus and Fort PortalCollege of Health Sciences.
  • Applicants shall be required to pay a non-refundable Loan Processing Fee of Shs53,000 to the HESFB
  • LOAN APPLICATION FEE, Account No. 3740300006 Centenary Bank or 01363669053643 DFCU Bank.
  • The Payment Receipts shall be scanned and attached during the Loan Application process.

ELIGIBILITY TO THE STUDENTS’ LOAN SCHEME INCLUDES;

  • Applicants must be Ugandan
  • Admitted or pursuing any of the HESFB’s approved STEM programmes or Programmes approved under affirmative Action.
  • To be studying from any of approved HEIs i.e. all Public Universities, all Chartered Private Universities, all Listed OTIs.
  • Applicant must demonstrate a financial need.

Requirements for Application include;

  • A copy of admission letter from any of the participating HEI
  • A copy of the National ID
  • Copies of academic certificates or result slips and transcripts
  • A copy of a birth certificate
  • A copy of a recent passport photo
  • Proof of payment of the prescribed loan processing fees
  • A copy of a Financial card (not mandatory at the point of application)
  • A sketch map of applicant’s current address/residence
  • A sketch map of applicant’s home of origin (if different from current address)
  • A fully filled loan application form submitted online

Deadline for Applications: Tuesday, November 30, 2021

AFFIRMATIVE ACTION

  • In order to achieve equity in the Students’ Loan Scheme, the Board will this year continue its affirmative action programme to special interest groups and these have been catered for the score card.
  • Female applicants will be offered a seven-point score advantage.
  • Applicants from Northern Uganda (West Nile, Achohi, Lango and Karamoja Regions) and the Island Districts of Kalangala and Buvuma have a special consideration.
  • PWDs have extra advantage score

WARNING

  • Applicants are strongly warned against falsifying information or presenting forged documents to support their application process. This attracts dire consequences.
  • The Loan Processing Fee is strictly paid in the Bank on the provided account numbers or on the online platform.
  • Be aware of FRAUDSTERS! No payment should be made to any individual for purposes of securing the student loan.
  • The names of the successful applicants will be published in the Print media, HESFB website, and Personal communication via SMS after all applicants have been subjected to the Means Test.

Pearl Times Reporter
Pearl Times Reporterhttps://pearltimes.co.ug
Latest Uganda news, politics, business, health and entertainment coverage.

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