The Zambian Open University Students Union (ZAOUSU) has today disbursed K39, 980 in interest-free students’ loans to 17 students of Zambian Open University who were threatened with the prospect of not sitting for May/June 2019 Semester Examinations due to unpaid tuition balances.
Announcing the decision to award interest-free loans, Chairperson of the Student Revolving Fund Committee and ZAOUSU Vice President, Maxwell Chisase said the Union, in consultation with ZAOU Management, awarded the loans ranging from K1,200 to a maximum of K3,560 to 17 students who had applied for the relief measure to enable them take examinations.
“We wish we could award these loans to all students who had applied but the Union has limited resources and a couple of priorities. These loans are purely supported by voluntary student contributions and supplementary funds from the Union,” said Vice President Chisase
Mr. Chisase said the Union looks forward to students and members of the public taking up the challenge to grow the Revolving Fund as it has become apparent more and more students are faced with financial difficulties to meet their tuition fees.
“Our Union established this Fund to enable students to borrow and return within two months of disbursement of the loan to students. This was part of our campaign promise last year to help our fellow students,” said Chisase.
Among the beneficiaries of the current loans are 6 students from the School of Law, 5 Students from the School of Education, among others.
In 2019, ZAOUSU has allocated a total of K44,000 towards the students’ loans. The loan was started with a total of 14,000 in 2018 and is meant to grow each year dependent on the repayment of the funds by beneficiaries.
The ZAOU Students Union was elected on the promise of “putting students’ interest first” and promised to mobilize resources from members of the public as opposed to reliance on never-ending trend of over-reliance on government to meet some of the students’ needs.