The Higher Education Students Financing Board (HESFBUG) has today released the 8th Cohort list of successful applicants for study loans for the Academic Year 2021/22, under government study loan scheme.
From the list (Lot 1) released today, out of the 4,797 applications received by the Board, 920 students have been found to qualify and awarded financial support. Out of the 920 successful applicants in Lot 1, 464 (50.4%) are males while 456 (49.6%) are females.
Established by an Act of Parliament in 2014, HESFB is a government body mandated to provide loans and scholarships to eligible citizens of Uganda to enable them access Higher Education and to increase equitable access to higher education in the country. Under this arrangement, students from higher institutions of learning who qualify are given loans to facilitate their tuition, research fees, functional and all related school dues, which they pay back to government on completing studies.
The Board made the call for loan applications to the 8th Cohort under the Students’ Loan Scheme on 11th October 2021 & closing on 30th November 2021 but 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 processes.
The Board then extended the Loan Application period for the 5 Public Universities (Makerere, Kyambogo, Soroti, Lira, and Gulu Universities) and the Other Tertiary Institutions which is now 15th January 2022.
Lot 1 institutions include; African Bible University, Bugema University, ISBAT University, Islamic University in Uganda, Kampala International University, Kampala University, Mountains of the Moon University, Ndejje University, Bishop Stuart University, Nkumba University, Uganda Christian University, Uganda Martyrs University, Mbarara University of Science and Technology, Kabale University, Busitema University, and Muni University.
According to the Executive Director HESFBUG, Michael Wanyama, a total of 4,797 submitted Loan applications for Lot I institutions and of these, 3,926 were appraised and found eligible for support. The remaining 871 applications were rejected as they were found to lie outside the eligibility criteria.
Mr Wanyama says, the Board also received 130 Applicants under Continuing Students programme and it has approved the award of Loans to 120 of these final year students. Of the 120 students, 85 (71%) are male while 35 (29%) are female. He however noted that the Board shall inform the public about the total number of all loan applicants and loan awards for the Academic year 2021/22 after processing the remaining Lot II loan applications.
This is the first time for the release of the list of the pioneer Cohort of HESFBUG’s latest product, the Continuing Students Loan, following the appropriation of UGX500million by parliament to cater for continuing students effective Academic Year 2021/22.
In the Academic Year 2021/22, Government allocated funds to support 1600 Students under the Students’ Loan Scheme. Government through Parliament appropriated a total of UGX 6,050,000,000 towards funding Loans for the academic year 2021/22 inclusive of UGX 500 million for the continuing students.
Under the same arrangement, Lot II was allocated UGX 2,247,500,000 to support 380 undergraduate Degree students and 235 Diploma Students.
These funds were scientifically allocated to fund both Lot I and Lot II equitably and in accordance with the Higher Learning Institutions that fall in the different Lots. Lot I which being released today, was allocated 920 students to utilize UGX. 3,802,500,000, of which 120 are finalist under the Continuing Students Loan, 735 are undergraduate Degree students 65 students are pursuing undergraduate Diplomas.
Speaking at the event in Kampala, Mr Wanyama expressed appreciation to president Yoweri Kaguta Museveni, the Minister of Education and Sports Janet Museveni and the entire political leadership of the Education and Sports ministry for the support to the Board for the cordial working relationship.
In terms of policy support for Persons with Disabilities PWDs, 20 students with disabilities have been given support. Of these 4 are female while 16 are males. In addition, they been given support with Aids & Appliances to pursue their studies without interruptions.
In regard to regional distribution, HESFB reported that in Lot I loan awards, applications from all districts were received apart from Kaboong and Buvuma districts. The Board also noted it even received applications from districts like Amudat and Nakapiripit which have not been submitting applications and each registered a successful applicant. Karamoja region too was well represented according to HESFB.
The successful applicants, HESFB says, shall be informed today of their fate through SMS messages and on the website and other social media platforms. They will later be required to sign loan agreements and their loans dispatched to respective tertiary institutions.