Education for the Vulnarable: Victoria University signs MoU with financing Board to give loans to Victoria University students

Victoria university has signed a memorandum of understanding with the Higher Education Students’ financing board(HESFB), a government body that helps students struggling with fees to undertake further studies in universities and other tatiory institutions of higher education in forms of a loan as a revolving Fund.

The loan is paid in a three year  period depending on the years the student has spent at the university. According to Bob Nuwagaba, the head of communications at HESFB, if a student has a course of three years, the loan can be paid three years after studies and another year grace period given which totals to about six-eight years.

Victoria University and the HESFB team that was present to sign the MoU

the organisation that started way back in 2014 has so far helped more than 12000 students to date from a total of 23 universities of which 10 are public universities and 13 private in addition to Victoria Unibersity that recently received its charter.

The executive director Mr.Wanyama Michael advised the students to go for the loans.

“the deadline for students to get the loan has been extended to the 15th of October 2022 to enable Victoria university students to apply since the University had just got its chapter”. He said.

Bob the head of communication assured the students that there is no security needed or asked for by the organisation inorder to get the loans although a few requirements such as a national ID, academic certificate for the UACE and UCE, a map of your current and home location will be needed when applying for this loan.

He also added that they were previously supporting  students who were doing science courses and disabled students taking on any course of their choices but  also students who did arts subjects in their A’level studies and wish to undertake courses in tourism, hotel management and hospitality have been highly encouraged to meet the targeted demand of over 700000 people needed in the tourism sector after the development of the oil industry in Hoima district.

Mr. Bossa the director of opperation said that this memo signed between Victoria university and  UESFB is to ensure that both parties can achieve their respective goals of ensuring that Victoria students get the quality education they need without disturbance

He also said that the body will make sure that the students who apply for this loan scheme meets them in time without any challenges


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Muwanga Deo

About the Author: Muwanga Deo

I am a journalist by profession having worked with former Record Television in 2019 and a current affairs news writer since 2019 to-date