Graduates to repay loan cash after getting jobs

  By Vision Reporter

The money Government will loan to students from poor families joining university will be paid back after the beneficiaries have got employment, President Yoweri Museveni has directed.

"Government has now introduced a students' loan scheme where the student is given money for university education. He/she then pays back that money in installments when employed," Museveni stated, in a speech read for him by the State minister for Higher Education, Dr. John Chrysostom Muyingo, at the launch of a fundraising drive for the University of Sacred Heart in Gulu district on Saturday.

In the 2013/14 budget sh5b was allocated to the Ministry of Education and Sports to kick-start the Students Loan Scheme.
According to officials, initially Science, Medical and Engineering students will benefit. According to guidelines, students will be bound to take up government employment after their respective courses, which will serve towards the repayment of the loan.

Museveni said the Government looks after a child from the mother's womb, immunizes it at birth, gives it free primary and secondary education and now support to those admitted to universities by cannot pay.

He said another sh29b has been provided in various banks for loans for youth who are unable to get employment to start their out income generating activities.