These details were shared by the BRD leadership during a gathering for Rwandans living abroad on January 3, 2025.
The event hosted by the Minister of Foreign Affairs and International Cooperation, Amb. Olivier Nduhungirehe, was attended by over 130 Rwandans from more than 40 countries.
In his address, the Minister emphasized that achieving the goals of the National Strategy for Transformation (NST2) will require ongoing effort and collaboration with relevant stakeholders, including the Rwandan diaspora.
The student loan scheme, which started in 1980 under the Ministry of Education, has undergone several changes over time.
Initially managed by the Ministry of Education, the responsibility shifted in 2008 to the Students Financing Agency of Rwanda (SFAR).
In 2013, following a merger of institutions under the Ministry of Education, SFAR was integrated into the Rwanda Education Board (REB) as a department responsible for student loans.
In 2016, BRD took over the management of student loans and collection of repayments from beneficiaries.
During the event, Wilson Rurangwa, Head of the Education Department at BRD, urged those who had benefited from the loans to begin thinking about repayment.
"As the Minister mentioned, the NST2 development agenda aims to build a knowledge based economy, and this can only be achieved through education.
"Many of us here have had the privilege of studying with these loans, but we must repay them so that future generations can have the same opportunity," Rurangwa said.
BRD also advises loan applicants to open accounts with BRD Minuza, which will allow them to easily track their payments or have their employers deduct payments directly from their salaries if applicable.
The bank has been making adjustments to student loan repayment procedures as needed.
For example, in July 2024, 300 million Rwandan Francs were refunded to those who had overpaid on their loans.
IGIHE
Source : https://en.igihe.com/education/article/gvt-disburses-frw392-billion-in-student-loans-since-1980
