Victoria University, a private charted university has on Monday launched the Students Loan Scheme to enable less privileged students to acquire higher level education.
The Students Loan Scheme is funded by the Government of Uganda through the Higher Education Students Financing Board – HESFB
This comes a fortnight after the University secured a Charter, after it was cleared by the National Council for Higher Education and signed off by President Yoweri Museveni.
Wanyama Michael, Executive Director – HESFB said that after attaining her charter, the university now has all the necessary requirements to provide education support through loan scheme. The university now joins 22 other universities running the students loan scheme, 13 of which are private.
He noted that the loan scheme is only for students enrolled in selected universities and tertiary institutions basically for science-related disciplines.
However, Wanyama says “Students with disabilities unlike other applicants, can pursue also arts courses. The rest of the students are only supported on the condition that they do sciences and are admitted to an accredited University.”
Dr. Lawrence Muganga – the University Vice Chancellor said that they have embraced the Students Loan Scheme to continue helping students, who are looking for high-quality and affordable education in the country.
“At Victoria University, we offer hands-on, technology-based education and applied research which are essential to the productivity and prosperity of the country and the region. We always strive to ensure that our graduates have the knowledge, skills, and competencies employers want. Our graduates leave Victoria University with soft skills, quality degrees, confidence, prepared, and in demand. The Students Loan Scheme, will in effect, help move students access this quaility of education.”
The Vice Chancellor says that all their accredited Health Science Technology, Engineering and Mathematics (STEM), and Tourism and Hospitality programmes are will be catered for under this arrangement.
Launched by President Museveni in 2014/2015 academic year, with 1,201 beneficiaries, the numbers have steadily increased to over 10,041 beneficiaries.
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Wanyama revealed that the beneficiaries have been perusing over 130 degree programmes and 76 undergraduate diploma courses mainly in Science, Technology, Engineering, and Math (STEM) programmes.
Today, more programmes from Victoria University have been added to the portal www.vu.ac.ug
Eligibility into the scheme
Wanyama notes that they are currently supporting students pursuing diploma and undergraduate programmes. “Plans are underway by Government, to also finance Post Graduate programmes and Doctoral Studies.”
“It is important to note that the Students Loan Scheme is a cost sharing arrangement where the loan only covers the academic component of a student’s needs, ie Tuition fees: Functional fees, Research fees, Aids and Appliances for Persons with Disabilities (PWDs).”
Students can now apply for the Students Loan Scheme, after securing Admission Letters from Victoria University.
Victoria University is the only university in the country with a career and employability program, which was intentionally designed, to empower all students at the university with soft skills.
The school prides in its Innovation and Virtual Reality Learning Centre, set up to bring the latest digital literacies and skills to its learners.