Student Financing Board visits Victoria University; You can enrol for your degree on a government loan

The July intake is on at Victoria University and if finding fees has been your worry, there is a solution as the Higher Education Student’s Financing Board  (HESFB) provides student loans to be paid back when the students find work after their studies. The board was at Victoria University signing up students to take up the loans, this Tuesday, but if you missed the opportunity, it is not too late as they have a deadline of July 31, 2024.  

About the HESFB

The Higher Education Students’ Financing Board (HESFB) was established in February, 2014 by an Act of Parliament HESFB Act No. 2 of 2014, with a mandate to provide Loans and Scholarships to Ugandan students to pursue Higher Education.

Eligibility for the student loans

1. Be a Ugandan Citizen.
2. Be Admitted to a Private Chartered University or Public University or a listed Other Tertiary Institution in Uganda. Accreditation is by the National Council for Higher Education (NCHE).
3. Applicant must be pursuing any of HESFB’s approved STEM Programmes or Programmes approved under affirmative Action.
4. Demonstrate a financial need.
5. Be joining in the First Year of study.
6. MUST not be a beneficiary of any other Scholarship or Funding Opportunity

General Requirements for  Students’ Loan Application include;

1. A copy of admission letter from any of the participating HEI.
2. A copy of the National ID.
3. Copies of academic certificates or result slips and transcripts.
4. A copy of a birth certificate.
5. A copy of a recent passport photo.
6. Proof of payment of the prescribed loan processing fees.
7. A copy of a Financial card (Not mandatory at the point of application).
8. A sketch map of applicant’s current address/residence.
9. A sketch map of applicant’s home of origin (if different from current address).
10. A fully filled loan application form submitted online.

The loan repayment period is twice the study period plus a grace period of one year.