The Higher Education Students’ Financing board will now be offering its financial assistance to final year students. According to the Board executive director Micheal Wanyama, the funds will help finalists to finish university.
“In its 27th meeting, the Board approved to gazette this funding to start with Final year students who are struggling to finish their study programmes,” Wanyama said.
The funds will be directed to the finalists in the 5th, 4th, 3rd and 2nd years depending on the years of the programme. In the subsequent years this will cover all continuing students as the funding grows, Wanyama added.
Initially, the Student loan scheme was used to finance only students that were joining higher education in their first year and funded them till they finished. This has been running from 2014 in a bid to increase access to Higher Education and support highly qualified Ugandan students who may not afford Higher Education
Finalists’ Requirements for the Student loan scheme
• Applicants must be Ugandan
• Applicant must be in their final year of studies
• Pursuing any of the HESFB’s approved STEM programmes or Programmes approved under affirmative Action
• To be studying from any of the approved HEIs i.e. All Public Universities, all Chartered Private Universities, all Listed OTIs.
• Applicant must demonstrate a financial need.
• Applicants shall be appraised under the Means Testing Instrument