Zimbabwe: $40m Earmarked for Student Loans

21 August 2019

Government has set aside $40 million towards a revolving education loan fund for access by students from State universities.

This follows last month's announcement of the reintroduction of student loans to cushion academically-gifted, but financially-challenged students in State universities.

Speaking to The Herald on Monday, Higher and Tertiary Education, Science and Technology Development Minister Professor Amon Murwira said the reintroduction of the student loans was progressing well.

"As Government, we have secured $40 million for access by those deserving bright, but indigent students from the State universities," he said.

"So far we are targeting those vulnerable groups, such as orphans.

"We started it as a seed, but my ambition would be for the loans to be universal to every student. However, that would need the fund to grow first. I was in a meeting with all the vice chancellors who said the respective committees have been set up and we deliberated on the need to create a fool proof selection criteria to ensure that those we are targeting benefit. These committees will be working on the specific frameworks in the identification of deserving students, among other modalities and as the scheme grows, more students will certainly be taken on board."

Applicants are expected to access forms from their respective institutions beginning Monday next week.

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