President Lazarus Chakwera is receiving praise for instructing the National Council for Higher Education to revise university student loans to help cushion students amidst the rise in cost of living due to rising inflation and the 44 percent kwacha devaluation.
On Wednesday, March 6, 2024 at the launch of the University Innovation Pod (UniPod) at the Malawi University of Business and Applied Sciences (MUBAS), president Chakwera ordered the ministries of education and finance and the National Council for Higher Education (NCHE) to review and increasing the students’ loans and allowances.
Commenting on the development, the Private Schools Association of Malawi (PRISAM) through its president Dr Ernest Kaonga, said it is pleasing that president Chakwera has come up to the rescue of high education students.
While claiming that there have been an outcry from university students on the current K350,000 upkeep allowance, Dr Kaonga said this will help to enabling equitable access to quality education.
“We receive many letters from students asking for school fees for both secondary and college studies. We adopted some students but we believe what the Malawi leader has done will help to alleviate financial challenges among these students, hence developing education standards,” said Kaonga.
In 2022, the Higher Education Students Loans and Grants Board, adjusted upwards upkeep allowance of students from K200,000 to K350,000.
