Government’s Higher Education Loan Programme (HELP) benefited over 35,000 students across 58 institutions in the country since its inception in 2020, aims to alleviate financial barriers faced by students in pursuing tertiary education.
Prime Minister James Marape and Higher Education Research Science and Technology Minister Don Polye indicated that this year government has allocated K50 million which will benefit over 14,000 students in the 58 higher education institutions.
The challenge now is for the government to recoup the money from the students who received the loans, Minister Polye stated that they are working on creating a structure that will ensure students repay the loans.
Minister Polye highlighted the two reasons students who graduated and are working now couldn’t repay the loans.
“We don’t have a structured system in place therefore, I am happy with the Secretary Fr Jan Czuba’s effort that we are now putting a structure in place,” Polye said.
“A financing structure and a recouping structure so we revolving fund like the sovereign wealth fund. What we do in HELP will be similar principles to the sovereign wealth fund, so students can pay back.
“The second reason is, most of the students that we gave them loan have not been employed or are still studying in the higher education institutions. We give them time to complete their studies and get an employment,” Minister Polye said.
