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Alba Iulia
Tuesday, March 31, 2020

Government to introduce Loan Schemes for students before end of the year

General News Government to introduce Loan Schemes for students before end of the year

GOVERNMENT will introduce a loan scheme for students in higher learning institutions before the end of this year to reduce dependence on public financing for operations, Minister of Education, Science, Vocational Training and Early Education Michael Kaingu has said.

Dr Kaingu told a press briefing in Lusaka yesterday that Government’s new approach to finance higher education is premised on the need to establish a mechanism for learners to pay back the loans upon completion of their studies.

“There has been wide expectation from school- leavers that Government will automatically provide bursaries and living allowances, which has largely caused student protests. But the increase in the demand for higher education will not allow us to sponsor all students and that is the main reason why we want to establish this loan,” Dr Kaingu said.

The minister said Government wants to establish a sustainable way of sponsoring students that will compel them to pay back the money.

He said his ministry is working with all stakeholders in the design and implementation of the new approach toward a sustainable and equitable financing system, which will result in the production of professionals who will contribute to the socio-economic development of the country.

“My ministry is determined to ensure the development of the higher education sector in Zambia through the establishment and operation of both public and private higher education institutions,” Dr Kaingu said.

He also dispelled speculations that Government will not sponsor first year students at the Copperbelt University (CBU).

The Zambia National Students Union has welcomed Government’s move to introduce a loan scheme for students.

ZANASU president Humphrey Mwenya, who is also COBUSU president, said the loan scheme has always been there but that Government has not been able to recover the money from students after completion of their studies.

“Government should come up with mechanisms to take back the money so that it can be used to help other students. I also appeal to the bursaries committee to release the names of students who have applied for bursaries on time so that CBU resumes classes on time,” Mr Mwenya said.

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6 COMMENTS

  1. How are the graduates going to pay back this loan when there are no jobs in the country? By selling tomatoes? I doubt if this can work in Zambia.. many graduates end up in drinking places after universty

    • Perhaps this may compel the government to create more job opportunities so that graduates can pay back.
      However, care must be taken not to disadvantage self-sponsored graduates when it comes to recruitment, because this has the potential to influence the government to give their ‘debtors’ first preference so that they can pay back quickly.

  2. Can we also consider the students in diaspora please. I don’t care hoe the loans will be paid after all certain individuals in govt educate their families on taxpayers money. Bring them on and if there are no jobs after graduation we will until such a time when we can can afford period.

  3. Dr Kaingu, your MMD govt made the same “statements” way back and for your info, in 2005, i signed a loan agreement with bursaries committee which helped me get an education at “yunza”. I am now in the private sector and I dont think your government has any means of recovering its dues. What you are telling us is a non starter.

  4. Kaingu, you should start with creation of jobs, then loans. If you cant create jobs, then you have to continue with bursaries. You were campaigning for free education during elections so just continue providing free education.

Comments are closed.

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