University students applying to get loans under the higher education students’ loan scheme can pick the application forms from Centenary Bank at a loan-processing fee of 20,000 shillings.
Applications for the student’s loan scheme started on Tuesday 24th June.
Centenary Bank will give out loans as well as collecting filled out application forms from applicants across the country, Micheal Wanyama, the coordinator of the higher education loan scheme said.
He added that other Banks will be brought on board with time.
The loan will attract an interest fee of 7%. He said they opted for a lower interest rate to minimise cases of loan defaulting.
The president launched the student’s loan scheme in April this year. Government has put aside 5billion shillings to support financially needy students to study science courses at institutions of higher learning.
A total of 1,000 students will benefit from the funds.
The scheme will only fund university students to study at the five public and seven private chartered universities in Uganda.
Application process for student’s loan scheme starts added by Philimon Badagawa. on
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i would like to apply for aschool fess loan.