Are you in need of educational support? Apply for student’s loan scheme now

Students who have been admitted for specific undergraduate and diploma courses for academic year 2015/16 at Public and Private Chartered universities and Tertiary institutions can now apply for Students Loan Scheme according to the Higher Education Students’ Financing Board (HESFB).

The Students’ Loan covers tuition fees, functional fees and research fees. The loan also covers aids and appliances for persons with disabilities.

Who is eligible?

• Ugandan students who have been admitted for Undergraduate and Diploma programmes / Courses
• The students should be enrolled for Undergraduate and Diploma programmes / Courses at tertiary institutions as listed in tables 1,2,3,and 4
• Only Fresher’s; Due to the limited funds allocated for the Scheme, the Board shall award loans to students pursuing such programs in year I
• Students who have received Government or other scholarships are not eligible for the loan scheme.

How to apply?

1. a) Offline Application: Eligible applicants should get hard copy of the application form from the participating Universities; Office of the Academic Registrar; or from any Centenary Bank Branch across the country or download and print a copy from the HESFB website: www.hesfb.go.ug
2. b) Online Application: Eligible applicants should register and apply online for the Higher Education Students’ Financing Loan on the Higher Education Students’ Financing Board’s website
3. Visit the website and click on APPLY NOW to start the online application process. Applicants using this window shall be required to scan and upload all the attachments mentioned in the Loan Application Form including the Bank pay-in-slip.

On completing the application form, offline applicants are required to submit their application forms to any branch of Centenary Bank and upon payment of Ugx. 30,000 (Uganda Shillings Thirty Thousand Only) as non-refundable processing fees. Download the application Form

On completing the application form, online applicants are required to submit their application forms online upon payment of Ugx. 30,000 (Uganda Shillings Thirty Thousand Only) as non-refundable processing fees

The closing date for receiving applications is Friday August, 14th 2015.

Ugandan Universities and Courses for Student Loan Support

The Higher Education Students’ Financing Board (HESFB) was established by an Act of Parliament to manage the Students’ Loan Scheme.

According to information on HESFB website, the board has received funds from the government of Uganda to support needy but bright students to undertake tertiary education.

Government put an interest of seven per cent on the loans, meaning the Shs4 million each student gets every year attracts an interest of Shs280, 000.

According to the Higher Education Students Financing Act, 2014, repayment of the loan shall be charged on the income of the person who received the loan.

Repayment starts a year after the beneficiary has completed studies, whether employed or not. The Act provides for a six-month jail sentence or a fine of at most sh1m to beneficiaries who try to default after graduating.

Of the 2,109 students who applied to be considered for financial support last year, 1,269 were selected.

Also See: 200 Diploma students to benefit from students’ loan scheme 2015/2016