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Ministry of Education Launches Online Student Loan Application

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
25 Apr 2019 18:03
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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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.  

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