An insurer’s view on the proposed students’ loan scheme

Education anywhere, and particularly at the tertiary level comes at a price. For far too many, the cost is simply too dear. The joy of qualifying for and being granted a study course can be cut short when one is barred from sitting for semester examinations due to failure to honour fee payments.

The recently proposed Students’ Loan Scheme Bill, therefore, provides some relief to the anguish faced by many parents and students alike, but with it come certain concerns as well. Naturally, this Bill places further pressure on an already stressed tax base and, as potential contributors, you should have a say into its drafting.

In such cases, it doesn’t hurt to examine the statistics. With an annual growth rate of 3.2%, the number of Ugandan youth passing through the education system has been steadily on the rise. Unemployment figures do not make for happy reading with the national average at 3.5% and the alarming one affecting the youth at a staggering 32.2%!

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