Malawi provides K1.5 billion loans, grants for needy students -Chipungu

Higher Education Students’ Loans and Grants Board Chairperson Dr Geofrey Chipungu said Thursday that the institution has secured MK1.5billion ($3million) from government to provide loans and grants to needy students in public and private universities in Malawi in the 2015/16 academic year.

Chipungu : alawi's Higher education Students Loans and Grants Board

Chipungu : alawi’s Higher education Students Loans and Grants Board

He said in the capital Lilongwe that the funds given to the board are still at the lower side compared to the number of students who have so far applied for the scheme.

“We appeal to well-meaning individuals and organizations to complement Higher Students’ Loans and Grants Fund by supporting needy students in various institutions of higher learning,” he said.

The board which was instituted under the an Act of Parliament No.2 of 2015 in a bid to provide high education loans and grants to needy students plans to disburse M1.5 billion for this fiscal year.

The board has limited funds to be distributed among all the qualifying needy students in all the public and private higher learning institutions hence the appeal for support, Chipungu said.

He however pointed out that the board will administer the process of payment and repayment of the loans and grants.

The loans and grants scheme started in 1985 with funds from the World Bank amounting to $2.8million.

Chipungu emphasized the need for students to understand clearly criteria of acquiring loans saying equal chances would be given to both public and private accredited universities with programmes such that quarter system won’t apply to disbursement of loans and grants.

According to section 24 (a) (b) of the Higher Education Students Loans and Grants Act, the student shall be eligible for loans and grants if the student is a Malawian who has been admitted to pursue an accredited higher education programme and institution, and has no financial assistance from any other source to cover the items of cost for which the application is made.

“To this effect, the board has liaised with the National Council for Higher Education on information about institutions and programmes that are accredited. Note should be take that some institutions are accredited but they have some programmes which haven’t been accredited. Thus, needy students pursuing and admitted into unaccredited programmes aren’t eligible to apply for either the loans or grants”, explains Chipungu.

The development also comes amid the board’s intentions to recover outstanding loans that were granted to former students under student’s loans schemes which were introduced in the 1985/1986 until the commencement of the Higher Educations Students’ Loans and Grants Act amounting to MK2 billion.

Some of the officials who accompanied Chipungu at the news conference included   Mary Shaba, Director of education, Jessey Mbewe the Programme Manager, Funny Mthunzi, and secretary for education responsible for Higher education, Charles Msosa.

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Ngwazingwazi Mwale
Guest

Maform amenewa tizikasiya kuti?

MAFUMU
Guest

NANGA WANA MUNAWASANKHA A FIRST YEAR APITA LITI KU SUKULU ??

AKUNGOTI ZUNGULI ZUNGULI MMAPOLOTIMU ??

WENA NDI AWA ALEMBANSO MSCE

KOMA BOMA ILI ANTHUNI Aaaas !!

KAYA NDALAMA KOMA MAPWEVU PWEVU ???

MAKO
Guest

THANDIZANI WANA APHUNZIRE XOOL
OSAPONDEREZA OPHUNZIRA XOOL
OLO KAMUZU PANKHANI YA MAPHUNZIRO
ANAYESESA !!

Ochima
Guest

Changu Nthawi Ikutha Osapanga Chidodo Pagolo!!!

Wamakezana
Guest

Those who are employed should make sure to pay back the loans so that it should help the needy student like the way they were helped during their college days.Some are getting are getting very hefty salaries but they cannot help their needy colleagues.The only thing they know is drinking themselves to hell in bottlestores and growing tummies like pregnant women.Amalawi anthu opanda chikondi.Anzanu Ku Europe amabweza ma student loan akayamba ntchito.

Joseph Moyo
Guest

nzowawa kut apasidwewo ndi oti amaphunzra ku kamudzu acadamy ot fees imaposa universiry.ife mphawife nkuma dropa maphunziro ku university kusowa fees.

Change
Guest

Is this the father of Chimwemwe?

Arnold Munthali
Guest

Why do those who are employed not allowed? Some are more striken with poverty even though they are employed due serveral issues that encumpas them. Concerned. However, I appreciate this development.

Kondwani Mnjemu
Guest

problem has always bn that, the needy students never get the loans

Tamanda Sauka
Guest

Ndimangothokoza a malume ma loan sindinawaone. From Tawina to Delhi

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