SFAR tells employees to clear student loans

GICUMBI - Officials from the Student Financing Agency for Rwanda (SFAR), loan recovery department, on Thursday, urged employees of public and private institutions who benefited from government education loans to clear their debts. SFAR officials made the call at Gicumbi District hall, during a meeting that brought together secondary school headmasters, district employees, representatives of public and private institutions and representatives of sector savings and credit schemes. “All those who acquired government scholarships to study in institutions of higher learning are required to pay back the loans, to enable SFAR extend scholarships to more Rwandans intending to pursue higher education,” said SFAR loan recovery inspector Theoneste Gasangwa. Gasangwa explained that the loans are deducted from ones’ monthly gross salary, at a rate of 8 percent.“The loan recovery programme dates back to 1980,” he added. SFAR loan verification officer, Alice Murekatete, said; “SFAR embarked on the loan recovery programme in 2008 and has so far registered a good number of people who have cleared their debts.” During the meeting, many employees of public and private institutions inquired about the possibility of allowing them to pursue further studies at Masters and Doctorate levels on SFAR loans, upon clearance of their previous loans. “More loans shall be extended to employees of public and private institutions wishing to pursue further studies as long as funds are available,” explained Gasangwa. Representatives of various public and private institutions at the meeting were issued with SFAR “employer declaration forms”, which will be used to determine those to service the loans. Ends