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HIGHER EDUCATION STUDENTS FINANCING ACT.

ARRANGEMENT OF SECTIONS

   Section

PART I
PRELIMINARY.

   1.   Interpretation.

PART II
THE HIGHER EDUCATION STUDENTS FINANCING SCHEME.

   2.   Establishment of Higher Education Students Financing scheme.

PART III
THE HIGHER EDUCATION STUDENTS FINANCING BOARD.

   3.   Establishment of Higher Education Students Financing Board.

   4.   Composition and tenure of the Board.

   5.   Functions of the Board.

   6.   Powers of the Minister.

   7.   Vacating office of member of the Board.

   8.   Meetings of the Board.

   9.   Remuneration of members of the Board.

   10.   Committees of the Board.

PART IV
SECRETARIAT AND STAFF OF THE BOARD.

   11.   Secretariat of the Board.

   12.   Executive Director.

   13.   Duties of the Executive Director.

   14.   Other officers and staff of the Board.

   15.   Protection of members and officers of the Board.

PART V
LOANS AND SCHOLARSHIPS.

   16.   Student loans.

   17.   Interest on loan.

   18.   Student scholarships.

   19.   Bilateral scholarships.

   20.   Eligibility into the scheme.

   21.   Application for loan or scholarship.

   22.   Undertaking by approved applicants.

PART VI
REPAYMENT OF STUDENT LOANS.

   23.   Repayment of student loan.

   24.   Student loan repayment schedule.

   25.   Student loan beneficiary to inform Board.

   26.   Deductions by employer.

   27.   Early repayment.

   28.   Priority of student loan over other deductions.

PART VII
FINANCIAL PROVISIONS.

   29.   Higher education students financing Fund.

   30.   Loan protection fees.

   31.   Power to open and operate bank accounts.

   32.   Estimates of income and expenditure.

   33.   Application of Board funds.

   34.   Investment of surplus funds.

   35.   Financial year of the Board.

   36.   Accounts.

   37.   Audit.

PART VIII
MISCELLANEOUS.

   38.   False statements by applicants.

   39.   General penalty.

   40.   Appeals.

   41.   Regulations.

PART IX
TRANSITIONAL PROVISIONS.

   42.   Management of existing scholarships.

   43.   Transfer of assets and liabilities.

   44.   Amendment of Schedules.

 

      Schedule 1   Currency point.

      Schedule 2   Seal of the Board.

      Schedule 3   Meetings of the Board.

      Schedule 4   Undertaking by applicant

      Schedule 5   Loan protection fees.

 

HIGHER EDUCATION STUDENTS FINANCING ACT.

Commencement: 28 February, 2014.

   An Act to establish a scheme to finance students to pursue higher education in Uganda; to establish the Higher Education Students Financing Board; to establish a Fund to finance the scheme; to provide for the management and administration of the scheme and the fund; and for related matters.

 

PART I
PRELIMINARY.

 

1.   Interpretation.

In this Act, unless the context otherwise requires—

   "Board" means the Higher Education Students Financing Board;

   "currency point" has the value assigned to it in Schedule 1;

   "employment" means a contract of service between the employer and the employee and includes a person on self-employment;

   "functional fees" includes registration fees, examination fees, library fees, clearance fees, fees for identity cards, medical fees;

   "Fund" means the higher education students financing Fund established under section 29;

   "higher education" means a post secondary education course of study or programme leading to the award of a certificate, diploma or degree;

   "Minister" means the Minister responsible for education;

   "scheme" means the higher education students financing scheme established under section 2.

 

PART II
THE HIGHER EDUCATION STUDENTS FINANCING SCHEME.

 

2.   Establishment of Higher Education Students Financing Scheme.

   (1) There is established a scheme to be known as the Higher Education Students Financing Scheme.

   (2) The scheme shall consist of loans and scholarships provided to eligible students to pursue higher education.

   (3) The scheme shall be managed by the Board.

 

PART III
THE HIGHER EDUCATION STUDENTS FINANCING BOARD.

 

3.   Establishment of Higher Education Students Financing Board.

   (1) There is established the Higher Education Students Financing Board.

   (2) The Board is a body corporate with perpetual succession and a common seal and may for the purposes of discharging its functions under this Act—

   (a)   acquire, hold or dispose of movable and immovable property;

   (b)   sue and be sued in its corporate name; and

   (c)   do all acts and things that a body corporate may lawfully do.

   (3) The seal of the Board shall be authenticated in accordance with Schedule 2.

 

4.   Composition and tenure of the Board.

   (1) The Board shall consist of the following—

   (a)   one person with at least 10 years experience in management, who shall be the chairperson;

   (b)   a representative of the National Council for Higher Education nominated by the National Council for Higher Education;

   (c)   a representative of management of institutions of higher education nominated by the vice chancellors forum;

   (d)   a representative of the Ministry responsible for education in charge of higher education;

   (e)   a representative of the Ministry responsible for finance;

   (f)   a representative of employers nominated by a recognised employers umbrella association;

   (g)   a representative of students nominated by a recognised umbrella students association;

   (h)   a representative of workers nominated by a recognised workers organisation;

   (i)   a representative of Persons with Disabilities nominated by a recognised national umbrella body of persons with disabilities; and

   (j)   the Executive Director who shall be an ex officio member of the board and shall be secretary to the Board.

   (2) The members of the Board shall be persons of high moral character and proven integrity.

   (3) The chairperson and members of the Board shall be appointed by the Minister.

   (4) At least one third of membership of the board shall compose of women.

   (5) A chairperson or member of the Board shall hold office for four years and shall be eligible for reappointment for only one more term.

 

5.   Functions of the Board.

   (1) The functions of the Board are—

   (a)   to manage the higher education students financing scheme;

   (b)   to administer the Fund;

   (c)   to provide financial assistance to eligible students under this Act;

   (d)   to establish a loan protection fund for loans granted to a student under this Act;

   (e)   to determine the number of eligible students to benefit from the scheme;

   (f)   to explore modalities for resource mobilisation for the scheme;

   (g)   to perform any other function that is incidental or connected to the objects of the Board; and

   (h)   to establish and maintain collaboration and network with other persons, bodies, or organisations within or outside Uganda as the board may consider appropriate, for the furtherance of the purpose of the scheme.

   (

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