Uganda’s Students Loan Scheme: 1,000 University students will be funded to study science courses at the public and private chartered universities.
After being admitted by such universities, the student would be free to proceed and apply for the students’ loan when applications are invited.
The interest rate to be charged on the loan is meant to cover the inflation rate such that the money borrowed weighs the same value at the time of repayment.
Why the students Loan Scheme: The NRM government under the leadership of the President of Uganda seeks to ensure equal opportunities for all Ugandans to attain higher education through the introduction of a Students’ Loan Scheme for higher education.
The Government of Uganda through the Ministry of Education and Sports has introduced the students’ loan scheme.
Higher education in Uganda was originally free covering tuition and living allowance but the growth of student numbers has meant that the government of Uganda can no longer afford to pay tuition and personal needs for all the students that qualify to join tertiary/ higher institutions.
It has overtime offered bursaries to highly qualifying students at higher institutions but with the growth in student numbers due to UPE and USE support from the Government, many qualifying students have missed the chance to join universities and other tertiary institutions on government assistance.
Key highlights about the students loan scheme
- The Ministry of Education and Sports will run an official advert in the major print media of national coverage calling eligible students to apply when the law is passed by Parliament. (Already passed)
- The Loan & Scholarship Scheme is meant for Ugandan students ONLY.
- The Loans shall be disbursed to the Universities. (Public and private chartered universities)
- The Loan shall cover Tuition, Research and Functional fees ONLY.
- The Loan will attract an Interest determined by the Board and approved by the Minister.
- The Loan will initially benefit 1,000 Students to pursue Science related programs in both Public and Private Universities (Chartered universities)
- Different stakeholders have been consulted on this matter and these include among others( All Public Universities, All Private Chartered Universities, Solicitor General’s Office, Local Government Administration, Ministry of Finance, Planning and Economic Development, Parliament and International bodies that have implemented the Students’ Loan Scheme.
Useful links about the students loan scheme
Important information about the Uganda's students loan scheme added by Philimon Badagawa. on
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