Education ministry takes over students' financing board

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The Ministry of Education and Sports has officially taken over the functions of the Higher Education Students Financing Board (HESFB).

This occurred during the handover ceremony in Kampala on Monday (January 6), presided over by the Permanent Secretary of the Ministry of Education and Sports, Dr Kedrace Turyagyenda, who was represented by the Under Secretary, Dr Jane Egau Okou.

“Going forward, the responsibilities of HESFB will be managed under the ministry through the Secretariat for the Higher Education Students Financing Board, to ensure continuity and effective service delivery,” the ministry said in a statement on X.

The Ministry of Education and Sports has officially taken over the functions of the Higher Education Students Financing Board (HESFB). (Courtesy photo)

Established under the Act of Parliament No. 2 of 2014, HESFB has actively supported Ugandans in accessing higher education by providing financial assistance.

“This transition seeks to streamline operations and improve efficiency in advancing our education sector,” the Ministry said.

3,000 new beneficiaries

Parliament heard in January last year that HESFB was targeting 3,000 students to benefit from the latest round of Government loans in this financial year.

The students were set to be picked from across the country, bringing the total number of those who would benefit from the loan scheme to 6,180.

A total of 3,180 beneficiaries were already on the scheme as of January 31, 2024. However, the Budget Committee of Parliament observed that HESFB lacked sufficient funds to offer loans to the majority of needy students who apply to the board for higher education funding.

“In line with parliamentary resolution of July 12, 2023, the committee was informed that only sh21.06b has been provided and the board needs sh27.8b to provide loans to a total of 6,180 students, out of which 3,180 will be continuing students already on the scheme while 3,000 is the targeted new cohort of beneficiaries, hence a funding gap of sh6.75b,” the report said.

Guidelines stipulate that only Ugandans who have been admitted for accredited courses in institutions recognised by the National Council of Higher Education are eligible to benefit from the loan scheme.

Over the past nine years, a total of 13,405 students have benefited from this scheme, out of which 9,198 (68.6%) were male and only 4,207 (31.4%) female, according to the latest report for the financial year 2022/23 by the Equal Opportunities Commission.