STAKE HOLDERS CALL FOR STUDENTS LOAN SCHEME REVIEW

By Katongole Arnold

“We will not be receiving student loan applications for academic year 2023-2024, we have arrived at this decision as a board after silt of budget from government.” Said Michael Wanyama Chairperson of The Higher Education Students’ Financing Board (HESFB)

It’s this affirmation by the students loan scheme (HESFB) chair, that have interested various stakeholders from beneficiaries, benefactors, academicians and legal brains to get involved on the above matter. The statement by Wanyama followed by an interview where he affirmed that the statement was released after a joint board meeting and several engagements.

Wanyama articulated that government cut their budget by nearly 16 billion, which completely leaves the scheme operations constrained and unable to fund new students for this academic year 2023-2024.He further highlighted the presence of a debt from two Universities Makerere University demanding close to 6 billion Uganda shillings and KIU owes the institution about 4.3 billion Uganda shillings which all have to be paid for these institutions to accommodate more students in the coming academic years and to maintain a reputation with these institutions.

Apictuter showing Mr. Wanyama O. Michael

In an earlier presser by the institution , wanyama confirmed that they will continue to pay for the continuing beneficiaries but will not take in loan applications for incoming students for this academic year 2023-2024 as they continue to lobby government to give them a supplementary budget or increase money in the next financial year to continue smooth running of the institution since inception in 2014.

Many beneficiaries like Dr.Musoke Joseph a beneficiary of the program, currently a veterinary doctor working with Kamuli district, said this is a bad precedence to the institution’s reputation. Musoke adds that people like him are surviving and were able to succeed academically because of the institution. He attributes the trouble of the institution to failure of students to pay back their loans since many fail to get jobs in time after graduation which delays their pay thus affecting the running of the institution.

In an interview Dr. Lawrence Muganga the vice Chancellor for Victoria University, he called for a whole review of the program. He added that all students should not be in class full time . He urged that all students need to exercise with different bodies for the entire period at the University so as to get the minimum years experience employers request for , to award jobs to these fresh graduates.

Muganga added unless these students under the scheme get to be on top lists for government to give them jobs on academic merit first , here they will be able to repay their loans in time and the institution shall be assured of paying universities in time to prevent break of trust for involved parties. He urged the students who were going to enroll for this academic year 2023-2024, that its not the end of the world and they should keep focused and ready move.

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