Relief As HESFB Clarifies on Student Loan Deadline

On Monday, March 4, 2024, the Higher Education Students Financing Board (HESFB) announced the resumption of the Student Loan Scheme. The news was received with happiness and joy. Reservations were made regarding the deadline that was set, by Friday, March 15, 2024. This was due to the fact that senior six students of last year (2023) hadn’t yet received their results. A wave of panic ran through a number of parents and students whose only hope for continuing higher education is through HEFSB student loans.

However, with regards to all the numerous questions and concerns about the resumed student loan scheme, a date was set to explain it all. This was on Thursday, March 7, 2024, at 10:00 AM, coincidentally the same day that the Uganda Advanced Level of Education (UACE) results were to be released.

What the HEFSB said about the Student Loans 2024

In a question and answer session that was held live on their YouTube Channel, the Board’s Executive Director CPA Michael Wanyama and the Director of Operations Mr. Bbisa Kizito exhausted every question that was brought onboard regarding application for the student loans 2024. Mr. Wanyama, the Executive Director, began by giving a brief background of how the HESFB began way back in 2014 set up by an Act of Parliament. He emphasized the purpose of the student loans was to support critical programs and ensure regional balance as well as support students from humble backgrounds to realize their educational dreams.

In addition, the Executive Director reflected on the trying moment the board encountered last year due to inadequate funds. This forced the government to halt the program only to resume it this year. The program majorly focuses on sixteen disciplines/educational programs/courses and is available in all public universities and 13 private chartered universities out of the around 40 private universities out there.

Who Qualifies for the HESFB Students Loans 2024?

The major question of the day was “who qualifies for the student loans 2024?”. This is because a number of students who sat senior six last year (2023) were left sweating plasma wondering how they were to beat the deadline yet their results were not yet released. Speaking on the same Question and Answer session by the Board, Mr. Bbosa Kizito, the Director of Operations, explained that the advert and deadline for the student loan scheme apply to majorly first year students who are in the first semester at the moment. It also applies to those who mainly sat for their UACE in 2022 or applied for a dead year in the previous year.

Regarding students who recently received their UACE results for the exams they sat for in November and December in 2023, Mr. Bbosa said this category should wait for their own advertisement and call for applications by May or June of this year 2024.

To watch the full Question and answer session, check on the YouTube Video below: