Assessment of factors associated with student loan and scholarship and the achievement of a revolving fund model
MetadataShow full item record
This study partly sought to assess the factors associated with the award of student loans and scholarships by the Higher Students Financing Board. These factors included; sex, region, residence (i.e. urban or rural), unavailability of a father (father absent) through either death, negligence or divorce, family income and the number of siblings of a successful loan applicant. The student loans awarded were analysed in three categories; those between Uganda Shillings (UShs.) 1.6 and 3 Million (the lower amount), those between U Shs. 3 and 3.4 Million (the optimal amount) and those between U Shs. 4.7 and 5.2 Million (the full amount).The key social economic characteristic of the successful loan applicants for the award of a full amount as opposed to the optimum amount included being female (p=0.042), having many siblings (p=0.046) and resident in rural area rural (p=0.007), and or whose father is absent due to death, divorce or negligence (p=0.000). Household income was not a significant predictor. For the award of scholarships, the key social economic characteristics of the successful loan applicants included being a resident in rural areas (p=0.008), from a household with low income (p=0.003) and whose father have low education level (p=0.001) or whose father is absent due to death, divorce or negligence (p=0.000). The factors such as the number of siblings (p=0.067), mother’s highest education level (p=0.867), college (p=0.427) and sex i.e. male (p=0.724) of the applicant were found not to be significant in determining the award of scholarship. The median annual salary for graduates of Bachelor of Science (BSc.) Civil Engineering was U Shs.17, 622,831, ranging from U Shs. (5,664,943 – 187,865,515). For Bachelor (B.) Nursing graduates, the median annual salary was U Shs.6, 994,841 ranging from U Shs. (2,518,307 – 171,364,292). The median annual salary for BSc. Education graduates was U Shs.3, 126,830 ranging from U Shs. (2,385,518 – 59,424,702). For Special Needs Education graduates, the median annual salary was U Shs. 4,038,062 ranging from U Shs. (2,726,880 – 121,854,588). The median annual salary for B. Medicine and Surgery graduates was U Shs.14, 947,770 ranging from U Shs. (4,957,899 – 300,000,000). The courses selected for this study had the following internal rates of returns. BSc. Civil Engineering (-15.02%), B. Nursing (-38.52%), BSc. Education (-30.78%), Special Needs Education (-76.80%), B. Medicine and Surgery (-12.85%). The internal rate of return for all the courses combined significantly dropped to -2.85%. However all the courses failed to register a positive internal rate of return. Inflation increased the internal rates of return by generally two percentage points.