HESFB Students Loan Applications 2022-2023 | All Global Updates

HESFB Students Loan Applications 2022-2023

HESFB Students Loan Applications 2022-2023;- Higher Education Student Financing Board (Hesfb) Loan Applications 2022-2023 – Www.hesfb.go.ug

Higher Education Student Financing Board (HESFB)  Loan Applications 2022-2023 – www.hesfb.go.ug Higher Education Student Financing Board (HESFB)  Loan Applications 2021/2022 – www.hesfb.go.ug Higher Education Student Financing Board (HESFB)  Are invited for Online and Offline Application for incoming first-year  Through this Article Is Describe Whole procedure step by step on How to Apply for HESFB Loan.

HESFB Students Loan Applications

a) Offline Application: Eligible applicants should get hard copy of the application form from the participating Universities; Office of the Academic Registrar; or from any Centenary Bank Branch across the country.

b) Online Application: Eligible applicants should register and apply online for the Higher Education Students’ Financing Loan on the Higher Education Students’ Financing Board’s website http://www.hesfb.go.ug/ilmis

  • Personal details
  • Parent’s details
  • Admission & Loan details
  • Applicant’s checklist
  • Declaration
  • Recommendations & Payment
    1. The Applicant can always save, after filling in the information he/she can be having at that moment, since the system only accepts submission only if all the Mandatory Information has been filled in with their accompanying scanned and uploaded documents.
    2. When finished filling in, will click submit.
    3. With on click of the submit button, a Report will be generated; containing the information that has been filled in by the Applicant. This is the partial submission in the ILMIS system. (i.e. Applicant has not yet made the bank payment)
    4. The report which will be taken by the Applicant and will be consisting of the following;
  • Personal Details of the applicant
  • Identification documents
  • Current address
  • Permanent address
  • Education background information
  • Details of institution to which you are admitted
  • Recommendations
  1. The Applicant takes this Report as printout to these personnels (Local Council 1, Head teacher of previous School/Institution attended, Sub County Chief/Town Clerk) mentioned on the form for recommendations, signatures and stamping.
  2. And once he/she finishes the filling in of the Report, the Applicant has to go to the Bank (any Centenary Bank branch), and pays fees which has been pre-defined by HESFB and receives the payment acknowledgement or payment slip from the bank.
  3. The Applicant will then scans and upload both the recommendations form and the payment slip and submit it in the system. This is the final submission. Then the application will be availed to HESFB.

HESFB Guidelines – Offline Applicants

The applicant will get the Printout Hardcopy of the loan application in any one of the following areas,

  • Universities/Institutions.
  • Centenary Bank (any branch around the Country).
  • Download and printout the application from the ILMIS website by self.

The Applicant will fill the information in the following sections;

  • Personal details
  • Local Council 1
  • Headteacher of previous School/Institution attended
  • Sub County Chief/Town Clerk)
  1. And once he/she finishes the filling in of the printout Loan Application, the Applicant has to go to the Bank (any Centenary Bank branch) and pays fees which have been pre-defined by HESFB and receive the payment acknowledgment or payment slip from the bank.
  2. The Applicant will then submit the complete and filled loan Application accompanied with the payment acknowledgment or payment slip from the bank to HESFB’s contact person in the Bank.
  3. And finally, the bank’s contact person will also submit the Applications accompanied with the payment acknowledgment or payment slip from the bank to HESFB.

HESFB Eligibility into the Scheme

Pursuant to Section 20 (1) of the Higher Education Students Financing Act 2014, the scheme is for Ugandan students seeking to pursue Higher Education in accredited institutions of higher learning recognized by the National Council for Higher Education and also pursuing the undergraduate programmes shown in table 1. Due to the limited funds allocated for the Scheme, the Board shall award loans to students pursuing such programs in year I & II.

HESFB Submission of application forms

On completing the application form, offline applicants are required to submit their application forms to any branch of Centenary Bank and upon payment of Ugx. 50,000 (Uganda Shillings Fifty Thousand Only) as non-refundable processing fees.

On completing the application form, online applicants are required to submit their application forms online upon payment of Ugx. 52,200 (Uganda Shillings Fifty Two Thousand Two Hundred Only) as non-refundable processing fees.

Please note that the Pay-in Bank Slip should be properly kept and will form the first level Loan Application acknowledgment receipt.

Please ensure that you read the application form carefully and attach /scan all the relevant documents as spelt out in the form.

HESFB Students’ Loan Coverage

The Students’ Loan will initially cover tuition fees, functional fees and research fees. The loan shall also cover aids and appliances for persons with disabilities.

NB:

  1. Seek for the loan ONLY IF YOU NEED IT.
  2. The application form is entirely free but a fully filled application form should be submitted to any Centenary Bank Branch after payment of Ugx. 52,200 (Uganda Shillings Fifty Two Thousand Two Hundred Only) as processing fees.
  3. Students who have received Government or other scholarships are not eligible for the loan scheme.
  4. You will be informed of the outcome of your application through the Print media, the HESFB website, and or via SMS on your private telephone contact.

Application for funding – HESFB Students Loan Applications

An advert shall always be placed in the national newspapers of national coverage annually soliciting applications from eligible students.

Application forms for the Loans and/or Scholarships shall be completed and submitted to HESFB in a manner defined by the advert. HESFB Students Loan Applications
All applications shall attract an application fee determined by HESFB currently at UGx. 50,000/-.
Evidence of payment for the application fees shall form part of the application.
Loan Application Requirements All completed application forms shall be accompanied with:
i. 3 colored pass port size photographs
ii. Acceptable valid form of Identification which can be (National ID, Passport, Driver’s License, Voter’s Card, School ID, NSSF Card).
iii. Bank slip confirming payment of the Application fee
iv. Academic Certificates/pass slips
v. Birth Certificate
vi. Admission letter to HEI vii. CRB / Financial Card [mandatory] viii. Sketch map to applicant’s home of origin.

Funding scope

The financial support (Loans/Scholarship) shall cover:
i. Tuition fees
ii. Functional fees
iii. Research expenses
iv. Aids and Appliances for PWDs

Pricing

Loans shall be repayable with interest.
The interest shall be determined and defined by HESFB. Scholarships shall not be repayable, except where a student:
i. Abandons the course without reasonable cause
ii. Changes a course
iii. Fails to comply with any other terms and conditions of the scholarship.

Loans – HESFB Students Loan Applications

a) Repayment:
A loanee shall start repaying the loan together with the applicable interest one year after the study period, on gaining employment. The one-year-after-study period is called the Grace Period. The loan shall be repaid over a period equal to the study period as defined in the admission letter. On completion of the study, the loanee shall make contact with HESFB to pick the loan repayment schedule.

b) Early Repayment
HESFB shall allow loan repayment before the due date (even during the study period) as this reduces the financial burden on the student in terms of the loan and applicable interest. Interest shall be charged on only outstanding loan amounts.

c) Loan Period
Loan period for purposes of this manual, shall mean, the predetermined period within which the borrower is expected to complete repayment of the loan and the applicable interest. This period for purposes of the Students Loan Scheme shall be twice the borrower’s study period plus the Grace period.

d) Loan repayment period:
The loan repayment period shall be the period within which the loanee is expected to complete repayment of the loan and the applicable interest, and is equal to the study period of the programme/course respectively.

e) Grace period:
Undergraduate loans are permissible to be offered a grace period, which is a 12-month period commencing after the study period. The period is given to enable the loanee to re-organize/settle or transit from student to working life.

The obligation of the loanee:

A loanee shall be required within one year after completion of studies:
i. To inform the HESFB of their new contacts/address
ii. To inform HESFB of their plans to commence repayment of the loan and the applicable interest.
iii. To execute a loan repayment schedule with HESFB.

Obligations of an employer of a loanee:
An employer shall be required upon engagement of a loanee:
i. To inform HESFB of the engagement in writing
ii. To deduct and remit to HESFB the loan amount and applicable interest due/outstanding from the loanee’s remuneration.

Types of Scholarships:
i. Internal scholarships
Internal scholarships shall be given to students who qualify for programmes that are offered in Higher Education Institutions in Uganda

ii. External Scholarships
External Scholarships shall only be awarded to students who qualify for programmes that are not offered in Higher Education Institutions in Uganda.

iii. Bilateral Scholarships
Bilateral Scholarships may be awarded subject to conditions agreed upon by the Donor Country and the Government of Uganda