All students are hereby advised that the Ministry of Higher and Tertiary Education, Innovation, Science and Technology Development promulgated the establishment of Higher and Tertiary Education loan scheme, starting in August 2019. The loan scheme is administered by CBZ (Pvt) Ltd.
Communication from the Ministry indicates that needy students should access the loan first and foremost. The communication from the Ministry further states that the selection process will be strict and transparent to ensure that deserving students are supported. The loan must be paid back either during the years of training or immediately after completion of studies.
The process of applying for the loan entails collecting application forms from the University and completing them accurately, giving full disclosure of one’s details. The applications will be vetted by a University Committee and the successful applications will then be submitted to CBZ Bank (Pvt) Ltd. CBZ Bank (Pvt) will additionally carry out further due diligence on the status of each applicant.
For those students whose applications are successful, the loan will be paid directly to the University to cover tuition, ancillary fees and accommodation charges.
Students should note that they do not necessarily have to wait until the completion of studies to start repayment but instead repayments can commence earlier, for example at the end of each Semester.
THANK YOU.
B Ngwenya
Registrar