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BRD starts a campaign to raise awareness on students’ loans

Posted By: Patience Rutayisire - On:19/07/2018
In a bid to raise awareness on accessing student Loans and recovery, the Development Bank of Rwanda (BRD) commenced a new campaign that will improve clarity on student financing and improved recovery of student loans.

Speaking during a press conference marking the start of the campaign, Eric Rutabana, the BRD Chief Executive Officer said that the campaign will boost the level of awareness of the education loan scheme managed by the Bank.

BRD raises awareness on students' loans

In October 2015, the Government of Rwanda, through the Ministry of Education, gave BRD the mandate of managing student loans and bursaries in compliance with the provisions of Law No. 44/2015 of 14/09/2015 governing student loans and bursaries in Rwanda. This role was previously undertaken by the Ministry of Education.

Since 1980, over Rwf 80 billion has been loaned to over 70,000 Rwandans to pursue higher education. Since the bank took over the responsibilities in 2016, it has recovered Rwf 5.1 billion.

Rutabana emphasized that they want to sensitize more beneficiaries to pay back so that they can fund more students every year and make the fund self-sustaining.

 “Life is all about opportunities, we strongly believe that each Rwandan student deserves an opportunity to Education. We contribute to Rwanda's human resource development through providing student loans and bursaries to students in recognized tertiary education institutions within and outside Rwanda,” he added.

Over the last 2 years, the bank has seen considerable improvement in disbursement, which they want to keep improving. They also would like improved recoveries and are working to streamline the recovery process and make it easy for beneficiaries to pay back.

The bank has also put in place a digital management information system (MIS) that will make it easy for ongoing students, beneficiaries and stakeholders to exchange information with BRD.

The six months’ campaign will be run intensively especially during the upcoming Kigali International Trade Fair (EXPO) starting on the 26th July 2018.

Students, parents and beneficiaries can visit the BRD stand to get more information on student loans, bursary disbursement and student loan recovery. This also can be done by visiting the BRD education office at Muhima next to Chic building.

 

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