A paltry 625 have been awarded student loans by the Hight Education Students’ Financing Board, Campus Bee reports. This was announced on Tuesday by The Minister of State for Higher Education Hon. Dr. John Chrysestom Muyingo at the Uganda Media Centre. “This year’s release brings on board the 9th Cohort of Loan Scheme Beneficiaries since the Scheme was inaugurated by His Excellency, President Yoweri Kaguta Museveni in 2014,” remarked Hon Dr. Muyingo.
Out of the 3,089 applications received by the Board, only 624 were successful. Of these, 418 are male while 207 are female with 518 (83%) being undergraduate students, while 107 (17%) are diploma students.
Mr. Michael Wanyama, the Executive Director of the Higher Education Students’ Financing Board revealed the the journey for the selection of the Student Loan Beneficiaries for this academic year 2022/2023. “The journey started on 18 h July when we invited interested applicants to send in their applications. We gave the applicants 1 month in which to apply, however we had to extend it to 2 months up to 15/10/22 hoping that all the University & Tertiary Institutions would have completed the admission process & issued out admission letters which is a prerequisite for one to apply,” he revealed.
There was 51% decline of applications from last academic year’s 6,256 to this year’s 3,089. Over 928 students were awarded student loans in the previous 2021/2022 academic year.