Where to Get Students Loans in Uganda


Various institutions in Uganda offers student loans. They include banks, Insurance firms, government institutions and other financial institutions.

Fixus Jobs has a list of institutions you will approach if you want a student loan in Uganda.


Ministry of Education and Sports is one of the few government institutions that offer loans to university and college students.

Features of the loans include:

  • The Ministry of Education, Science, Technology and Sports will run an official advert in the major print media of national coverage calling eligible students to apply when the law is passed by Parliament.
  • The Loan & Scholarship Scheme is meant for Ugandan students ONLY.
  • The Loans shall be disbursed to the Universities.
  • The Loan shall cover Tuition, Research and Functional fees ONLY.
  • The Loan will attract an Interest determined by the Board and approved by the Minister.
  • The Loan will initially benefit 1,000 Students to pursue Science related programs in both Public and Private Universities (Chartered universities)

Higher Education Student Financing Board is another government institution that offer student loans. The loans are given to hundreds of students applying to pursue undergraduate and postgraduate studies.

Eligibility Criteria:

An applicant shall be considered for funding on condition that:

  1. They have an admission to accredited programme/courses from a chartered University or listed Higher Education Institution.
  2. They are citizens of Uganda.

iii. They have passed the Means Test.

Application for funding

An advert shall be placed in the national newspapers 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.

All applications shall attract an application fee determined by HESFB.

Evidence of payment for the application fee shall form part of the application.

Loan Application Requirements All completed application forms shall be accompanied with:

  1. 3 coloured pass port size photographs
  2. 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

  1. Academic Certificates / pass slips
  2. Birth Certificate
  3. 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:

  1. Tuition fees
  2. Functional fees

iii. Research expenses

  1. Aids and Appliances for PWDs


Loans shall be repayable with interest.

The interest shall be determined and defined by HESFB. Scholarships shall not be repayable, except where a student:

  1. Abandons the course without reasonable cause
  2. Changes a course

iii. Fails to comply with any other terms and conditions of the scholarship.


  1. 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 study, the loanee shall make contact with HESFB to pick the loan repayment schedule.

b)Early Repayment

HESFB shall allow loan repayment before 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.

  1. 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.

  1. 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.

  1. 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 re-organise/settle or transit from student to working life.


Centenary Bank offers low interest student loans for students pursuing their education in Uganda universities. The loan has the following features

Centenary Bank partnered with Government on the Students’s Loan Scheme. The scheme is aimed at providing funding to needy but bright students to attend tertiary education.

Under the partnership, Centenary Bank  does the following;

  • Distributes and receives loan & schorlarship applications from  students on behalf of the Higher Education  Students’ Financing Board
  • Advance funds to approved students accounts and instantaneously remit the same to the institutions of higher learning for the benefit of the approved and successful applicant
  • Collect applications fees and any other fees on behalf of the above  Board

Application requirements are as below;

  •        Fully filled Loan application form . Find the formhere
  • Copy of University Admission Letter and a copy of the Fees Structure payable to the admitting institution.
  • Copy of the Applicant’s National ID (or evidence that applicant registered for the National ID) &  any other Valid ID.
  • 3 Passport photos
  • Copies of academic result slips / certificates (UCE & UACE)
  • Copy of birth certificate
  • Sketch map to applicant’s home of origin
  •        Copies of father’s / Mother’s pay slip (if applicable)
  •        Copy or copies of death Certificate(s) if orphaned or the LC 1 Chairperson’s confirmation.
  •    Applicant to sign each and every page of the Application form.

Bsnk of Africa Uganda is another organization to approach for student loans. Dubbed as School Fees Loan,the cash given to a student is a short term financing that attract low interest. Features of the loan are:

he SOMA loan is a personal short term school fees loan to finance expenditure related to customers educational study; including but not limited to; Tuition and scholastic materials.

The SOMA loan can be used to finance all levels of education, i.e. Primary, high School and College (Graduate and Post Graduate)

Features of the School Fees Loan (SOMA Loan)

  • Loan limit is up to UGX 5,000,000
  • Loan will be repaid through monthly debits for a period of up to 12 months
  • Loan will be disbursed directly to the clients account

Requirements for the School Fees Loan (SOMA Loan)

Borrowed customers;

  • Duly filled application form
  • Employer’s identity card
  • Passport photo

*DSR is up to 60%
*No need for a letter of undertaking

Non – Borrowed customers;

  • Employed or retired with regular pension
  • A consistency of at least 6 months with the same employer
  • Provide a valid work contract and valid map to residence
  • Provide last pay slip (for employees)
  • Willing to channel salary through BOA
  • Duly filled application form

School Fees Loan

A short term credit facility that is intended to facilitate the payment of school fees by parents, guardians and caretakers for their school-going children.

Why you should apply for this loan

  • Facilitates educational financing needs of parents/guardians/caretakers.
  • Short loan period of 3 months for primary and secondary and 6 months for university and tertiary education.
  • Flexible collateral.
  • The loan can be accessed for a number of cycles as long as the client repays well.
  • Competitive interest rate.

Qualifications for this loan

  • Individuals with active businesses or Group borrowers.
  • Applicant must be 18 years and above.
  • Sufficient collateral for both the existing loan client up to 100% for BL and SGL up to 60%. (No collateral required for Village Group Lending)
  • CRB registration.
  • Guarantorship for Group clients.

Comes with outstanding benefits

  • Relatively large amounts of up to Shs.3 Million.
  • Flexible repayment terms and periods of 6 – 18 Months.
  • No collateral requirements for Village Group Clients.
  • Faster loan processing time (within 48 hours*).

*Upon submission of all the required documentation

  •  Available for individuals and Group customers.
  • Affordable since loan is based on client’s capability.
  • No cash collateral.

Education Loan

This loan is tailored to meet the needs of Parents, Guardians and Students like Payment for school fees/ Tuition and meeting other educational requirements like computers, laptops, and study kits for those doing professional courses like CIM, ACCA, CPA, CIB, CIPS etc.


  • Bank account with PostBank
  • Verifiable source of income
  • Beneficiary student must be enrolled or offered admission
  • Filled education loan application form
  • Salary account for those using salary as sources of payment for the loan
  • Employed on permanent terms for a minimum of six months
  • Salary employees on contract terms will be allowed to apply and the payment period will not exceed the remain period of the contract
  • Original copy of salary payment slip

Security requirements

Customers with salary Accounts can provide the following:

  • Undertaking letter from the employer
  • Assignment of terminal, death or work compensation benefits
  • Lien on salary account balances

Customers with regular source of income other than monthly salary with PostBank can provide  can provide the following as security:

  • Savings on early start account
  • Registered chattels like vehicles, motor cycles
  • Land titled / kibanja
  • Business equipment and machinery
  • House hold property
  • PostBank Fixed deposit receipts
  • Lien on the early start account
  • Guarantors


  • Quick processing time of within 48 hours
  • Low interest rates
  • Flexible interest rates
  • No collateral for salaried employees
  • No penalty for early repayment
  • Accessed at any of our PostBank branches at no extra cost
  • Flexible repayment period to match the customer’s source of income

BARODA Education Loan (BEL)

Type of facility: Demand Loan
  • Student pursuing study – School / College education including courses leading to diploma / degree etc. offered by recognized schools / Colleges / Universities.
  • Should be Resident Ugandan.
  • Should have secured admission to the study courses.
  • Parent should be our customer
  • to meet educational expenses of student for study in Uganda or abroad.
Expenses Covered:
  • Fee payable to School / College / Institution / University.
  • Examination / Library / Laboratory fee.
  • Fee and other charges payable to hostel.
  • Purchase of books / equipments / instruments / uniforms.
  • Personal Computers / Laptops wherever required.
  • Caution deposit / building fund / refundable deposit supported by institution bills / receipts.
  • Any other expenses required to complete the course – like study tours, project works, thesis, etc.
  • Cost of external coaching / tuition is not covered
Amount of Loan: Maximum – Shs.15M. (Shillings Fifteen million only).

  • Need based finance subject to repayment capacity of parent / student, based on the expected income to be generated after completion of the Course (as per general assessment, to be made by the Bank).
  • Separate limit for School Education, College Education & Professional Education.
  • Upto Shs. 7.5 Mn.     –   NIL
  • Above Shs. 7.5 Mn.  –   25%
  • Scholarship / assistantship if any received to be included in the margin.
  • Margin may be brought in on semester basis as and when disbursements are made.
Repayment Period: Maximum 36 months
Moratorium: 12 months after completion of semester or 6 months after getting job, whichever is earlier.
Other terms: **
  • Next disbursement is made only after the student has passed the current examination and progress report / mark sheet of that effect is produced.
  • In case student does not secure hostel facilities with educational institute, he may be allowed to make his own arrangement.  Fees of lodging / boarding in such cases may be paid directly to the concerned establishment, after verifying bonafides of the same.
Interest: *
  • Up to  Ugx  5 Mn.    –   PLR
  • Above Ugx  5 Mn.   –  3% over PLR
  • Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.
  • 1% interest concession is provided if interest applied during repayment holiday is serviced.