Victoria University has signed a Memorandum of Understanding with Higher Education Students Financing Board (HESFB).

The student loan scheme was launched at the institution on Monday during the orientation of new entrants.

Dr. Lawrence Muganga the University Vice Chancellor expressed sincere gratitude upon HESFB’s interest of taking on their students to benefit from the scheme.

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“There are some students who would like to attain their academic dreams through Victoria University but do not have financial beef, this scheme will surely come to their rescue,” said Dr. Muganga.

He added that the University is result oriented and help students attain their dreams. He also informed the congregation that Victoria University is now fully chartered and is now able to extend every service related to upbringing students of high value in academics.

Wanyama Michael, the Executive Director of the Board said that since the Board was instituted in 2014, it has been helping to secure academic financing to students who are not fully capacitated to incur their academic dues.

He revealed that for 8 years now the Board has so far helped over 12,780 students. He allayed fears amongst students and parents that the loan is not attached to collateral securities, saying it only needs a student with qualifications accepted to higher institutions.

HESFB is a body under Education ministry instituted by law to offer Uganda’s students aid to attain their academic dreams through extending to them affordable loans to cover their academic journey.

The body extends loan to only Science students, special cases from Social Sciences and the Disabled.