HESFB Calls for Applications for Student Loans 2018/2019

HESFB Calls for Applications for Student Loans 2018/2019
University Graduates

The Higher Education Students Financing Board (HESFB) is calling for Application for Student Loans for the academic year 2018/2019.

Online Application: All eligible applicants are highly encouraged to register and apply online for the Higher Education Students’ Financing Loans using the Higher Education Students’ Financing Board’s website.

Applications shall be online on our website www.hesfb.go.ug, and can be accessed on Apply Now button .

You can also use URL:https://ilmis.hesfb.go.ug, to register and apply for the student loan ONLINE.

Applicants are required to print off 3 pages of the Application form, collect the required recommendation signatures, and attach all the mentioned documents in the Loan application form including the original Bank pay-in-slip, then submit their application to any nearest Centenary Bank Branch.

ALSO SEE: Approved Public and Private Institutions for Students Loan

Offline Application:
Eligible applicants should get hard copy of the application form from the participating Universities at the office of the Academic Registrar; or from any Centenary Bank Branch across the country or download a copy from the HESFB official website.

An applicant should fill the form accurately and collect the required recommendation signatures, and attach all the mentioned documents in the Loan application form including the original Bank pay-in-slip, then submit their application to any nearest Centenary Bank Branch.

Eligibility Criteria
An applicant shall be considered for funding on condition that they have an admission to an accredited programme/course(s) from a chartered University or recognized Higher Education Institution. They are citizens of Uganda and can demonstrate that they cannot afford the costs for higher Education.

HESFB Terms and Conditions for the Applicants

1. I hereby declare that the above particulars and information availed above is true to the best of my knowledge and the same shall form the basis of any arrangement for a facility (Student’s Loan, and any other products the Board might develop from time to time) if any granted to me.

2. The loan shall be repaid with interest as may be determined by the Board from time to time.

3. The Board retains the right to evaluate all loan applications and determine the number of beneficiaries. (This application is not a guarantee that the loan shall be approved).

4. In the event that the loan beneficiary discontinues studies for whichever reason before full disbursement is made, the Board shall not disburse the remaining allocation and shall recall the loan so far advanced in full together with the interest thereon.

5. The loan shall be repaid in equal monthly installment as per schedule determined by the Board.

6.As prescribed by section 27 of the Higher Education Students’ Financing Act 2014, I undertake to make early repayments when funds allow and I shall do so in manner that shall be approved by the Board.

7. If a loan beneficiary defaults in repayment when the loan is due, the whole amount shall become due and payable and the loan beneficiary shall be bound to pay all other charges that may arise as a result of the default including but not limited to the advocates fees and penalties.

8. The signature of the applicant shall certify the reading, understanding and being in agreement with the terms and conditions herein.

9. No loan shall be disbursed unless the loan agreement form is signed.

10. I am aware that the Board, at my cost, will protect its funds, i.e. the Students’ Loan against any such risk for such amounts which the Board has approved and disbursed to me. In the event that any Student’s Loan is granted and accepted by me, I agree to be bound by the rules, terms and conditions of the Board, and I undertake to sign all such documents as may be required to secure a Loan from the Board.

I acknowledge liability for all costs that shall be incurred by the Board to recover its funds from me. The costs may include Administration fees, documents verification and Legal expenses that the Board may incur while pursuing the loan recovery. I further acknowledge that the commitments I have made in this application shall continue to bind me from now onwards until the entire loan is fully paid and I accept full responsibility and shall fully indemnify the Board.

11. I undertake to notify the Board or its successors or assignees in title of any change which materially changes any representation first above mentioned.

I, the Applicant, hereby consent to you, the Credit Provider: Receiving, compiling and retaining any confidential credit information about me for purposes of (i) assisting you perform your statutory assessment of my creditworthiness (ii) deciding whether to grant credit to me and (iii) monitoring my credit profile, should you grant me credit; Filing my consumer and business credit information with any other credit provider and, Compuscan a registered Credit Reference Bureau(CRB) who is licensed in terms of the Financial Institutions Credit Reference Bureau regulations of 2005 Sharing my consumer credit information with any tracing agent or Collection Company in the event I default in my credit repayment obligations to you.

I further hereby consent to the Credit Reference Bureau:

Providing you with a credit report which you may rely on

(i) to assess my creditworthiness and

(ii) to base your decision whether to grant credit to me;

Accepting the filling of my consumer credit information from any credit provider; Issuing a report to any person who requires it for lawful purposes.

My signature hereto signifies my consent as aforesaid and my agreement to hold you and credit bureau and other credit provider to whom you may provide my consumer credit information in terms of my aforesaid consent harmless against any and all liability, loss, claim, demand, cost, fees and expenses and arising out of or from or in connection with my aforesaid consent.

13 Responses to "HESFB Calls for Applications for Student Loans 2018/2019"

  1. isingoma Fred   July 9, 2018 at 3:25 pm

    When is the application deadline

    Reply
  2. Yawe Israel   July 10, 2018 at 11:40 pm

    When is the dead line

    Reply
  3. Norah   July 28, 2018 at 3:27 pm

    when is the shortlist for the successful candidates

    Reply
  4. Grace   July 31, 2018 at 8:41 am

    When is the shortlist? Some students in some institutions have have already reported and other students have notbyet because they are still stranded

    Reply
  5. kalungi Edward   August 7, 2018 at 11:46 pm

    when is the the list for beneficiaries realised please because in makerere beyond 18th registration will be done

    Reply
  6. kusemererwa elias   August 26, 2018 at 8:34 pm

    how can i be part of this? i have been admitted at makerere university for bachelors of information systems and technology.

    Reply
  7. Kadeku Erick   August 30, 2018 at 6:27 pm

    I applied for the government loan but I don`t know how I will be informed when it`s approved

    Reply
  8. Ojan solomon Douglash   August 31, 2018 at 9:57 am

    thanks,am one of the people who have applied through the hard copy and i have since started attending lectures at Lira University doing Bachelor of science in Community Psychology and Psychotherapy and from 28th/August/2018 for those people who have not registered by then will now have to pay a 50,000# fine for late registration,yet am not even sure when the short list will be out,how i wish i(we) could be made aware,thanks

    Reply
  9. Moses   September 11, 2018 at 3:21 pm

    Please when will the list of beneficiaries 2018/19 be out.

    Reply
    • Philimon Badagawa   September 12, 2018 at 10:59 am

      We will publish it when the list is released. Thank You

      Reply

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