MOYO INTRODUCES US$1 BILLION STUDENT LOAN FOR HIGHER EDUCATION STUDENTS | Higher and Tertiary Education minister, Jonathan Moyo has said the recently introduced $1 billion student loan initiative will be benefit all accredited institutions offering authentic courses and programs regardless of them being private or public institutions.
Speaking on the sidelines of the Harare Polytechnic graduation and prize giving ceremony on Thursday, Moyo said the student loan facility was for every student as long as they were Zimbabwean citizens.
“As long as they are Zimbabwean citizens and are going to study for their diploma or degree at an institution that is properly or legally registered offering accredited degrees they automatically qualify,” he said.
Application for the loans are being done through one of the six approved financial institutions namely, CBZ Bank Limited, Eduloan, GetBucks, NMB Bank, POSB and ZB Bank. The banks will give 50%, while RBZ will factor in the remaining 50%.
Officiating at the graduation ceremony, Moyo said government is in the process of creating policy and legislative changes in higher and tertiary education in response to the demands for relevant learning and research for a science and technology headed industrialisation progression.
He said the ministry was preoccupied with redefining the objects of polytechnics.
Moyo said this was to ensure that they mainly focus on “Stemitised” application of existing and new knowledge for purposes of reverse engineering, re-engineering and the training of technicians and engineering technologists, who design and manufacture patentable industrial products and are well-versed in Zimbabwe’s culture and heritage.
“Against this backdrop, the ministry will make three policy and legislative changes to respond to the demands for relevant learning and research for science and technology led industrialization process … In this regard, the curriculum ought to mutate in line with the requisite national aspirations” he said.