The Ministry of Education has once again re-affirmed its position on the students loan scheme saying that the organisation going around collecting money is a fraud and should not be trusted.
The co-coordinator of the students loan Task Force in the ministry said that they have nothing to do with the organisation calling its self ‘STUDENTS EDUCATION FUND UGANDA’ and students should not trust the organisation as it is collecting money from them (students) illegally.
This comes days after the Education Ministry in a press statement warned the public that the the organisation “Under the name “Students’ Education Fund Uganda Grant (SEFU) – Address; Secretariat, P.O.Box 2093, Kla, 0414258882 [email protected]” is fake and warns the public to stay away from such shams.
The Ministry also added that the group has been publishing information in the media and calling upon students’ to apply by 28-6-13 and to pay application fees to the following Accounts; M/s. Diamond Trust Bank Ltd, A/c No. 7206952952. Account Name: SEFU Grant. these accounts according to the ministry are being run by fraudsters and the students should not pay their money there.
As a result, some students have been defrauded of their money as others continue to be defrauded.
“The Ministry of Education would like to disassociate itself from these individuals and warns the general public of such shams” a statement from the ministry read in part.
Due to this fraud, Criminal investigations have been commenced to bring the people responsible to book according to the Ministry.
It should be recalled that the government recently proposed student loan scheme, where students will be able to borrow money to pay for their University Education.
Under the program, students from both public and private universities will have a chance to get loans from the Government to pay for their education. The students will be expected to sign an undertaking where they will pay back the money with a small interest.
Last month, Finance Minister Maria Kiwanuka during the budget speech announced that she had provided five billion shillings for the commencement of the scheme.
Below is the release