Private schools commend Chakwera for directing review of varsity students’ loans

Private Schools Association of Malawi (PRISAM) – an association of the owners of private schools in Malawi – have commended President Dr. Lazarus McCarthy Chakwera for directing relevant ministries to adjust upwards loans for university students.

At the launch of the University Innovation Pod (UniPod) at the Malawi University of Business and Applied Sciences (MUBAS), President Chakwera directed Ministries of Education and Finance to work with the National Council for Higher Education (NCHE) to review and increase the students’ loans and allowances to ensure they are consistent with the prevailing cost of living.

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He said it would be unfair for the loans’ board to continue giving students old rates when the cost of living had gone up.

Reacting to the development, PRISAM president Ernest Kaonga described the move as a big relief to the students, saying it the upward adjustment of the loans will address challenges emanating from the rise in cost of living, including the recent devaluation of the Malawi kwacha.

Kaonga said the review will largely benefit students from underprivileged families who are struggling to meet the cost of living.

“As PRISAM, we receive many letters from students from both secondary schools and universities asking for school fees. We adopted some students but we believe what the Malawi leader has done will help to alleviate financial challenges among these students, allowing them to concentrate on their education,” he said.