2021/22 Academic Year: Student Loan Scheme Beneficiaries Announced

The Higher Education Students Financing Board (HESFB) Executive Director Michael Wanyama has today announced that 920 students have been selected to benefit from the loan scheme in the 2021/22 Academic Year.

According to the director, 4,797 students had applied. Among the 920, 464, or 50.4%, are males while 456, or 49.6%, are females.

The above number is composed of continuing students and first-year students. For the FY2020/21, Parliament appropriated Shs500 million to cater for continuing students effective AY2021/22.

The beneficiaries are finalists in the 5th, 4th, 3rd and 2nd year depending on the years of program. The Board says in the subsequent years this will cover all continuing students as the funding grows.

According to the board, it will soon announce another lot of beneficiaries as some public universities (Makerere, Kyambogo, Soroti, Lira, and Gulu) and the other tertiary institutions didn’t meet the initial deadline of November 30, 2021. The new deadline is January 15, 2022.

“The Board made the call for loan applications to the 8th Cohort under the Students’ Loan Scheme on 11th October 2021 and closing on 30th November 2021. At the end of the application window, only 4 Public Universities (Muni University, Mbarara University of Science and Technology, Kabale University and Busitema University) and All the Private Chartered Universities had completed the admission processes,” said Wanyama.

“The Private Chartered Universities are; African Bible University, Bishop Stuart University, Bugema University, ISBAT University, Islamic University in Uganda, Kampala International University, Kampala University, Mountains of the Moon University, Ndejje University, Nkumba Univerisity, Uganda Christian University and Uganda Martyrs’ University.”

In total, the government through Parliament appropriated Shs6.05 billion towards funding loans for the academic year 2021/22.

“Lot I which we are releasing today, was allocated 920 students to utilize Shs3,802,500,000, of which 120 are finalist under the Continuing Students Loan, 735 are undergraduate Degree students 65 students are pursuing undergraduate Diplomas,” said Wanyama.

“Lot II was allocated Shs2,247,500,000 to support 380 undergraduate Degree students and 235 Diploma Students. Please note that the bulk of the Diploma students shall be taken on in Lot II of Loan Awards which will cater for the students of the listed Other Tertiary Institutions.”

The Board has said all successful applicants will be informed today of their fate through SMS messages, website and social media platforms.