The system will manage the process of lending student’s money starting from the application stage, to the allocation of the funds, disbursement and recovery of funds. It will also give students the chance to keep up to date with their loan payments
The Ministry of Education has launched the Integrated Loan
Management Information System-an online portal that allows students to apply
for loans.
The system will manage the process of lending student’s money
starting from when they apply, to the allocation of the funds, disbursement and
recovery of funds. It will also give students the chance to keep up to date
with their loan payments.
Michael Wanyama, the Executive Director of Higher Education Students
Financing Board-HESFB, says the development of the system was important for
both students applying and the board.
“Before, our offices used to be filled with paperwork during the
application process. It took us a lot of time to compile all the application
and enter them in our database. This new system simplifies the process for the
student who no longer has to walk to a Centenary bank branch to hand in their
applications and our employees.”
The student loan financing scheme is a revolving fund. Wanyama explains
that the system will enable the board follow up on the academic progress of the
students to better plan for their finances.
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To apply for the loan, students will have to apply for an eligible
course from an approved institution of learning. Students then are mandated to
register with ILMIS and create an account.
Students are supposed to avail personal details like
identification documents, marital status and contact information. The student
is also expected to provide parent details and recommendations from the LC 1, 3
and former school.
Once this is completed, students will be given an identification number that
thy can use to log into the system to check whether their applications have
been accepted or not.
Wanyama says that the next cohort of students that apply for the
loan will be able to do so using the system.
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Cue out…quite many.”.
During the launch of the ILMIS, HESFB also officially opened the
sixth cohort for the loan application process. According to Wanyama, the body
is targeting to give loans to a total of 3,000 students.
The launch of the ILMIS system brings the number of management systems used by
the education ministry to 20. Other systems include the Teacher management
system and the Integrated School Inspection system. The system was developed by
Mpiga technologies.
The HESFB begun operations in 2014 and has to date awarded loans to a total of
8,190 students. Students studying science related courses are the main
beneficiaries of the loan scheme with the exception of persons with
disabilities that can apply for humanities courses.
Pamela Mawanda
Freelancer