Govt Reintroduces University Students' Loan Scheme
The government has reintroduced loan schemes for students in State institutions which were discontinued several years ago due to non-payment.
According to the Minister of Higher and Tertiary Education, Science and Technology Development, Amon Murwira, students can start applying for the loans in August this year.
Murwira said that the student loan scheme will be administered by the Commercial Bank of Zimbabwe. He said:
We are trying to improve access to higher and tertiary education.
This is a loan which must be paid back to enable the sustainability of the critical intervention.
We are now very strict. This is a commercial arrangement and students will have to pay (back). The government used to have this facility, but it collapsed during the 90s due to non-payment.
We cannot continue to be careless and we will follow up on beneficiaries. We want to support and empower the next generation
If assessed and approved, the beneficiaries will pay as they go. The payments will differ according to beneficiaries’ capacity. The system will be tailor-made to the capability of the individual.