The amount of money officials need to recover exceeds Shs32 billion since its inception.

The amount of money officials need to recover exceeds Shs32 billion since its inception.

Additional money recommended

Relating to information through the United countries social organization (UNESCO), governments throughout the world is struggling because of the increasing education loan debt, “as the share of college-aged men signing up for vocational universites and colleges has doubled from 20% to 40percent within the previous 20 years”. The center. in Uganda, a consolidated Auditor General report for 2021 says “the data of pupils’ beneficiaries through the loan scheme throughout the last 5 years suggested that an average of just 42% associated with the qualifying pupils access”

The Auditor General report noted that “whereas the amount that is recoverable at Shs2,568,798,065 as at the conclusion of Financial 12 months 2019/2020, just 231,003,090 was indeed restored representing a healing price of just 9%.”

Even though it sponsors at universities under the merit scheme to the HESFB that it is performing not so well in recovering loans offered to students, the board is still rallying for more funds and has come up with suggestions like advising government to channel part of the students. This recommendation if adopted will be an insurance policy change into the funding of merit pupils at general general public universities along with other institutions that are tertiary.

The already existing fund shall be utilised by more students when re-allocated“If only half of the Fund is relocated to the Students’ Loans and implemented in phases. Instead, federal government could give consideration to pricing sharing/partial scholarships being granted to merit people after all degrees of advanced schooling help and this is a global practice,” stated Wanyama.

Since their release in 2014, the learning students’ loan has supported over 12,000 people from needy backgrounds. (more…)