Higher Education Students’ Financial Board to support financially constrained continuing students in Loan Scheme
Written by Derrick Asaba on August 30, 2021
“I am happy to announce that in the AY2021/22, the Higher Education Students’ Board (HESFB) will be receiving applications from Final Year students who need a financial intervention to finalize their programmes of study,” said Michael Wanyama, the Board Executive Director.
During the 27th meeting, the Board approved to gazette UGX 500 Million appropriated by Parliament of Uganda to cater for continuing students effective Academic Year 2021/22.
The Board had for long considered supporting students who never complete their courses on time or just drop out but was only constrained by shortage of funding.
“This is an answer to our prayers and a big relief to the appeals the Board has been receiving in the same respect,” Wanyama said during a press conference held at the Uganda Media Centre today.
The funds will be directed to the finalists in the 5th, 4th, 3rd, and 2nd year depending on the years of programme. In the subsequent years, Wanyama said that this will cover all continuing students as the funding grows.
Among other qualifications, Eligible students are Ugandan students in their Final Year pursuing any of the HESFB’s approved STEM programmes or under affirmative action and studying from approved Higher Education Institutions.
The window for application to the Continuing Students Loan will open concurrently with the existing First Year’s Student Loan Opportunity in October 2021.
The selection process will be guided by the Means Test using proxy indicators that evidence financial difficulties of each applicant.