Management Of Higher Education Students Loan Scheme Funds In Uganda

This study aimed at establishing the management of higher education student loan scheme funds in Uganda taking a comparative reflection on China.It was guided by three objectives that are: to find out how the government disbursement of the student loan has led to improvement in access to higher education;to examine how the student loans scheme is being managed to avoid students default and achievement of its objectives in Uganda and;to assess the selection guidelines used in granting students loans in Uganda.The study was both quantitative and qualitative.It took a case study and descriptive designs.Data was collected from students' loan beneficiaries,Mo ES,and Makerere University administrators.A semi-structured questionnaire was used for students,while an interview guide for administrators was also used.Data from China was acquired from the review of documents.Data were analyzed using the thematic analysis technique and descriptive results(frequencies and percentages).Findings revealed that generally,disbursement of student loans has led to improvement of higher education with key emphasis offered to science students who would not be able to access higher education in Uganda.This is generally related to China,where many students have accessed students' loan funds,increasing their opportunities to receive higher education.However,it differed in the way that in China,all needy students can benefit,unlike in Uganda,where science students are prioritized thus marginalizing those offering humanities.From the second objective,it was revealed that the student loan scheme in Uganda is managed with a high level of transparency 62.5 per cent.It was also revealed that the selection criterion in Uganda favours science students who have passed the science at A level and admitted to higher institutions whereas in China,it is not science alone,the financial status of the students' family especially the poor benefit first.The student's loan scheme financing board has come up with proper guidelines followed in the administration of the loan scheme and that efforts are made to ensure that the beneficiaries get jobs to repay whereas,in China,MOE,MOF and China People's Development Bank have a great say in the management of state students loan schemes.Also institutions,regional administrations have a great say in the administration of the loan scheme.The study hence recommended that responsible officials such as HESFB,MOES and University administrators must ensure that the disbursement of the student loan fund is made on time and also include other needs related to student accommodation,meals and other requirements.This may be done in a phase that is at the beginning of the semester the first disbursement must be offered and in the middle of the semester,the last disbursement must be made.Also,they not only provide segregative loans by including students from the humanities side,especially if they prove to be from disadvantaged groups and affect regional balance while allocating these loans.Further,there needs to include senior secondary schools' administrators in the sensitization of students about the availability of students loans and which disciplines.This may be done by sending students loan officers in secondary schools to make students aware of how this policy works.Programmes on students' loans may also be organized on all radio and television stations,sensitizing all the stakeholders about the provisions of student loan policy.In doing this,widening access among beneficiaries would be possible.Further,administrators of student loans should put more emphasis on transparency,accountability and fairness in the management of student loans scheme.This may be arrived at with making consultation from all the beneficiaries.Higher Education students' loans Board may need to open up offices across the various regions in the country for efficiency and effective management purposes.The student's loan management board may need to draw a framework upon which they do their services.In this plan issues related to the student numbers,courses,loan application coordination may be explained to avoid ambiguities.Issues like leaving out disadvantaged students from humanities,corruption,charging high interest,giving a short period for loan recovery and failure to design an employment plan for beneficiaries may be solved consensually.Finally,administrators of student loans are ought to revisit the selection criterion of the beneficiaries from the student loan scheme.Selection should be objectively done with ones' credentials,economic background as stated in the policy.Issues of favoritism,corruption may be fought with severe punishments offered to culprits.The student loan scheme should take into account affordability for students and parents to repay,both financially and psychologically.Some of the beneficiaries of the programme may not be able to repay within the short time frame offered.Also,the grace period must be revised and the student should be made to pay when he or she is economically able to repay.Management of the loan scheme and how it is controlled should be improved.This might be done by involving commercial financial organizations like banks,Saccos,loan credit offering bodies,among other financial agencies.These also should ensure that they publicize information related to loan provision to all stakeholders in all corners of the country.Also to avoid non-payments,income-contingent loans require a serious debate about university graduate employment opportunities.This would help to eliminate giving out large sums of loans to students without making moves to ensure that they would be absorbed in the employment sector.