Relief as Victoria University Launches Students Loan Scheme

Launche of Students Loan Scheme at Victoria University

Victoria University Kampala has launched the Students’ loan scheme under the Higher Education Students’ Financing Board (HESFB), government body that helps students struggling with fees to undertake further studies in universities and other tertiary institutions of higher education in forms of a loan as a revolving fund.

Launche of Students Loan Scheme at Victoria University

Victoria University joins 22 other universities, in running the Students Loan Scheme, funded by the Government of Uganda. This comes a fortnight after Victoria University’s secured a Charter; after it was cleared by the National Council for Higher Education and signed off by H.E President Yoweri Kaguta Museveni.

Victoria University has embraced the Students Loan Scheme, to continue helping students, who are looking for high-quality and affordable education in the country.

The Executive Director 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 charter”. he said.

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 more students access this quality of education’’, he said.

The Students Loan Scheme is only for students enrolled in selected universities and tertiary institutions. 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.

Launched by President Yoweri Kaguta Museveni 2014/2015 academic year; with 1,201 Beneficiaries, the numbers have steadily increased to over 10,041 beneficiaries. 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.

The Higher Education Students Financing Board currently supports students pursuing diploma and undergraduate programmes. Plans are underway by Government, to also finance Post Graduate programmes and Doctoral Studies shortly; and since Victoria University is starting a Doctoral next year, our students will greatly benefit from this development by Government.

The Board determines the Students’ eligibility into the scheme and takes into consideration regional balance, gender, social economic needs and equity.

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).

The Higher Education Students Financing Board approves the programmes of study to be funded every academic year and currently, all accredited Health Science, Technology, Engineering and Mathematics (STEM), and Tourism and Hospitality programmes are will be catered for, under this arrangement.

All Persons living with Disabilities are eligible to pursue either Sciences, Humanities, or Economics programmes; unlike the rest of the students.

Students can now apply for the Students Loan Scheme, after securing Admission Letters from Victoria University.

Following the operationalization of the Students’ Financing Scheme, a Loan Application Form was designed and approved for use during the Loan Application. Over the years, the Loan Application Form was updated, amended, and improved to ensure that it seamlessly targets the most deserving students who are socially and economically needy but academically outstanding.

At Victoria University, they believe that this Charter is a confirmation that we are a leading University in Uganda, East Africa, and Africa in offering Experiential and Work Integrated Learning.They are determined to produce graduates with employable skills and the capacity to creatively employ themselves. They do this by providing meaningful, hands-on work experience to enrich theoretical learning. Their work integrated learning program is enabling students to complete a program of three to four years with at least 2 to 3 years of work experience.

It is the only university in the country with a career and employ-ability program, which was intentionally designed, to empower all students at Victoria University with soft skills.

They also do pride in our Innovation and Virtual Reality Learning Centre, set up to bring the latest digital literacies and skills to our learners. With new technologies related to the development of computers, graphics, hardware, and the emergence of Web 3.0 technology and block chain networks; the virtual world has become a reality. Every other day, the demand for virtual reality increases, and the industry represented by the Metaverse is developing; as a university, we are determined to keep our students on top of the exposure-to-learning chain.

In the Metaverse, a virtual world that transcends reality, artificial intelligence and block chain technology are being combined, and Victoria University is ready to take a lead in the continent’s institutions.

They offer a fresh and intellectually stimulating environment that nurtures critical thinkers. The University was opened in August 2013 and has the capacity, facilities, and determination to revitalize higher education in Uganda and the region.

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