Uganda: Student Loan Applications Halted

9 July 2023
The Independent (Kampala)

Kampala — The Higher Education Students' Financing Board (HESFB) revealed that it will not receive applications for study loans for the academic year 2023/24.

This was announced in a notice issued on Thursday by the HESFB executive director, Michael Wanyama.

Wanyama attributed the decision to budget shortfalls, resulting in the board failing to mobilize the funds required to sponsor new cohorts of student loans.

However, Wanyama noted that the board will continue to facilitate in-study loan scheme beneficiaries while engaging all stakeholders in resource mobilization to resume supporting new cohorts of student loans in the academic year 2024/25.

"We are sorry for any inconveniences this may cause," Wanyama said.

It is understood that the budget allocated to the board in the last financial year was not all released, leaving the board in arrears and debt.

Since its inception in 2014, the HESFB has been implementing the student loan scheme in a bid to increase access to higher education and support highly qualified Ugandans who may not afford higher education.

https://t.co/B2gT6974vk pic.twitter.com/OysFNzprjA

-- Higher Education Students' Financing Board (HESFB) (@HESFBUG) July 6, 2023

Read the original article on Independent (Kampala).

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