How the planned students' loan scheme will work

The Students’ Loan Scheme will initially benefit 1,000 students to pursue science related programs in both public and private chartered universities in Uganda.

Five billion shillings have been reserved to fund the students’ loan scheme and The Campus Times brings you details of how the planned students’ loan scheme will work.

Who is eligible for the students’ loan scheme:

The students’ loan scheme is for Ugandan students seeking to pursue higher education in an accredited institution of higher learning recognized by the National Council for Higher Education.

The applicant must be pursuing an accredited programme and must have been admitted to an accredited Higher Educational Institution.

The applicant will be required to make a written application to the Students Loan Scheme by filling in a required form and submit it within a specified timeframe.

The Students Loan Scheme will initially offer loans to students pursuing their first degrees in public and private chartered universities in Uganda pursuing any of the approved courses.

There will be cost sharing between the government and the students whereby the Student loan Scheme shall cover

tuition fees and functional fees only at the beginning.

Accommodation charges, meals, books and stationery will be considered in the future depending on the availability of funds. This is because of the limited capitalization of the loan scheme and therefore students will not be awarded adequate loans to cover all the pedagogical and non pedagogical expenses.

Besides, cost sharing will lead to a reasonable number of students to access loans. Provision of tuition and functional fees will enable the beneficiaries to meet the critical pedagogical expenses critical to facilitate completion of academic programmes.

Approved Courses to be granted Students’ Loans 2013/14

B. Medicine & Surgery (MBchB)

B. Pharmacy

B. Nursing

B. Dentistry

B. Medical Lab. Sciences

B. Medical Lab. Completion

B. Clinical Medicine & Comm. Health

B. Community Health

B.Sc. Medical Radiography

B. Veterinary Medicine

B. Nursing Completion

B. Pharmaceutical Sciences

B. Physiotherapy

B.Sc.Education

B. Agriculture

B.Sc. Agriculture Mechanization

B.Sc. Water Resource Eng.

B.Sc. Agro Processing Eng.

B.Sc. Animal Production and Management

B.Sc. Mining

B. Agriculture & Entrepreneurship. Voc. Studies in Agric. with Educ.

B.Sc. Electrical Engineering

B.Sc. Civil Engineering

B.Sc. Mechanical Engineering

B.Sc. Petroleum Engineering

How to apply for the students’ loan:

An eligible student may apply to the Board for the loan or scholarship.

Every application shall be accompanied with

• A copy of an admission letter from the institution of higher education.
• A copy of a document identifying the applicant.
• Copies of academic results slips, certificates or transcripts.
• Three recent passport photographs.
• Prescribed fees.

Identification of the loan beneficiary:

The Board shall allocate a student loan identification numbers to each approved applicant, who has entered into an undertaking with the Board. The Board shall issue a student loan card to each approved applicant containing:

• The student’s name
• Photograph
• The student loan identification number

Repayment of the student loan:

The students’ loan will attract an interest determined by the Board and approved by the Minister of Finance.

The student who will have received the students’ loan is expected to start repaying the loan and interest at least one year after completing the course.

The loan recipient may also start repaying the loan before completing the course in case he/she is capable of paying back the loan. Th board shall inform the student who received a student loan in writing to start repaying a month before the specified date.