Parents can solve the loan issue
Aug 14, 2006
SIR — I sympathise with students and parents who are likely to be affected by the new school fees policy at Makerere university.<br>However, I believe most of them have a way out of these financial woes.
SIR — I sympathise with students and parents who are likely to be affected by the new school fees policy at Makerere university.
However, I believe most of them have a way out of these financial woes.
If they believe they can pay the money if given more time, then they should think of seeking credit from banks.
Some banks like CMF have education loan products where they can pay back in monthly installments. The interest rates charged by these banks are almost negligible compared to the the other options like missing out a year, borrowing from loan sharks at the last hour.
It is not uncommon to see businesses drained of capital at the beginning of school terms or semesters yet there is an option. I call upon our learned friends to extend their relationships with banks beyond ATM machines and seek loans.
This will cater for the long suffering university plan and will also ensure a hustle-free study environment for students. It is then that we shall talk of financial literacy.
Thomas Kabugo
Kampala
However, I believe most of them have a way out of these financial woes.
If they believe they can pay the money if given more time, then they should think of seeking credit from banks.
Some banks like CMF have education loan products where they can pay back in monthly installments. The interest rates charged by these banks are almost negligible compared to the the other options like missing out a year, borrowing from loan sharks at the last hour.
It is not uncommon to see businesses drained of capital at the beginning of school terms or semesters yet there is an option. I call upon our learned friends to extend their relationships with banks beyond ATM machines and seek loans.
This will cater for the long suffering university plan and will also ensure a hustle-free study environment for students. It is then that we shall talk of financial literacy.
Thomas Kabugo
Kampala