Student loan scheme e welcome move
Jun 28, 2010
Parliament’s social services committee has recommended that government set up a student’s loan scheme to aid students’ pay for their university education.
Parliament’s social services committee has recommended that government set up a student’s loan scheme to aid students’ pay for their university education.
With the liberalising of university education and the admittance of paying students to the public universities and tertiary institutions, parents are having to eke out a few more millions to see their children through school.
Previously once a child finished secondary education, public tertiary institutions did not charge fees. However the prioritisation of primary and secondary education and the government’s inability to keep up with demand forced government to introduce private students.
Education minister Namirembe Bitamazire has said government has earmarked sh10b towards setting up the scheme.
Going by experience, it would be nice to have this student loan scheme loan scheme housed in an autonomous authority insulated from political influence and guided by objective, well thought out criteria.
Beyond the Government’s role, parents need to factor in these new fees they most likely will have to pay in order to see their children through their undergraduate education.
Like in many western economies, parents start saving for their children’s university education at birth — Ugandan parents should start doing the same.
This should be seriously considered for two main reasons; it is likely that by the time a child born now is eligible to attend university, public university fees will be much higher than they are today and also public universities will not be the first point of call. Chances are the pricier private universities will be the preferred choice for your children.
Government too should explore innovative ways to finance these loans; a bond issued on the Uganda Securities Exchange for instance will not only provide the needed funds, but also deepen our financial markets. Partnership with private operators too would be useful.
Nevertheless it is welcome news that parliament backs the initiative its operatilonalisation is mere detail.
With the liberalising of university education and the admittance of paying students to the public universities and tertiary institutions, parents are having to eke out a few more millions to see their children through school.
Previously once a child finished secondary education, public tertiary institutions did not charge fees. However the prioritisation of primary and secondary education and the government’s inability to keep up with demand forced government to introduce private students.
Education minister Namirembe Bitamazire has said government has earmarked sh10b towards setting up the scheme.
Going by experience, it would be nice to have this student loan scheme loan scheme housed in an autonomous authority insulated from political influence and guided by objective, well thought out criteria.
Beyond the Government’s role, parents need to factor in these new fees they most likely will have to pay in order to see their children through their undergraduate education.
Like in many western economies, parents start saving for their children’s university education at birth — Ugandan parents should start doing the same.
This should be seriously considered for two main reasons; it is likely that by the time a child born now is eligible to attend university, public university fees will be much higher than they are today and also public universities will not be the first point of call. Chances are the pricier private universities will be the preferred choice for your children.
Government too should explore innovative ways to finance these loans; a bond issued on the Uganda Securities Exchange for instance will not only provide the needed funds, but also deepen our financial markets. Partnership with private operators too would be useful.
Nevertheless it is welcome news that parliament backs the initiative its operatilonalisation is mere detail.