Showing posts with label Higher Education Loan Program. Show all posts
Showing posts with label Higher Education Loan Program. Show all posts

Higher Education Tuitions Assistance Schemes TESAS and HELP will run simultaneously

Prime Minister Hon. James Marape says the Government has not scrapped the Higher Education Contribution Assistance Scheme (HECAS) and Academic Excellence Scholarship (AES) in favour of the Higher Education Loan Program (HELP).

help loan and tesas (hecas and aes) remain PNG
CLICK HERE TO READ THE POSTS ON HELP & HECAS

He said this today when clarifying misconceptions among students and institutions that HECAS and AES had been done away with.

 “HELP is a facility made available by Marape-Steven Government for students who will need help for their tuition fees this year and beyond,” Prime Minister Marape said.

“AES students will continue to receive this Government incentive, but there are still many students who remain outside of formal Government assistance, for whom HELP is intended.
“Students who need assistance are required to present their acceptance letters at registration.

“School registrars will facilitate their enrolment with tuition fee guaranteed from the HELP scheme. 

“This is not compulsory, but for students who need a helping hand.”

Prime Minister Marape also clarified repayment time for the HELP.

“This loan scheme will not be burdensome on present student borrowers,” he said.

“It will have no time limit for repayment, is interest-free and you can take your life-time to repay. 

“It is structured in a way to give assistance but, has citizen responsibility towards repaying.
“Into the future, a correct endowment fund structure will be set up to ensure sustainability for future generations. 

“We also thinking of linking 7 per cent of National Gaming Board funds into this scheme for student assistance. 

“During the course of the academic year, working together with Census 2020, proper National Identification (NID) numbers of students will be issued.

“We will entrench this scheme for 2020 and beyond.”

Next Tuesday, Prime Minister Marape and Higher Education Minister Hon. Nick Kuman will meet all universities and college administrators to tidy up on this facility, as well as 2020 school programmes, so there are no hiccups.

“Government will work with the schools to ensure timely quarterly disbursements to schools, starting at the opening of the academic year 2020,” Prime Minister Marape said.

“I am adamant that this must happen.

“Where there is a will, there is a way.

“The rich and employed can afford school fees for their children, but what about those who can’t afford?

“This policy is for them.”

Approved for Release.  January 13th 2020

Source: Facebook, PM & NEC page, 14/01/2020

HELP Studentships: What Are the Benefits? Media Statement

Below is an adapted version of the media statement released by DHERST per the HELP (PNG Higher Education Loan Program) studentship load program for 2020. The original version can be found via the link provided below. 

HELP Loan PNG HEI
IMAGE: DHERST Media Release

Key points about PNG Higher Education Loan Program

  • HELP student loan is 'interest-free' with lenient repayment plans and schedules
  • Application for HELP is online via DHERST website
  • Students will begin repayments on their loan about six months after their graduation
  • HELP studentships will commence during the opening of the first semester of the academic year 2020.
  • You DO NOT have to get the loan if you can afford to pay higher-education fees or have secured a sponsorship.
  • HELP covers a wide range of students as long as the students secured a place at a tertiary institution in the country: self-sponsored, drop-outs/self-withdrawn, selected students, post-graduate students, etc
One disparity between an NBC new article (READ IT HERE) and this press release is the difference in HELP 'commencement dates'. But, understandably the date of commencement stated by DHERST (first semester of the academic year 2020) could be considered.

HELP is 'far-reaching'

Government is committed to providing financial assistance to students this year through the innovative and far-reaching HELP program that has been carefully designed with the PNG context in mind.

Whilst we wish to reward academic excellence, it should be noted that HELP will fund those students who, for different reasons, may have not met the qualifying criteria for TESAS.

To clarify the situation, during this academic year a full awareness-raising program will be carried out across all institutions of higher learning and the public at large.

The HELP program is inclusive and will also extend to those students who are self-sponsored. 

In future years the program will embrace students who have ‘dropped-out’ for whatever reason and wish to return to further their education in either government or private higher education institutions.

Government is firmly committed to the principle of equal value in education, seeing it as a fundamental right, and will ensure that no child or student is left behind.

How to apply for HELP?

Those seeking access to HELP studentships will download and complete application forms from the DHERST website once they have enrolled with, and been accepted by, an HEI for the 2020 academic year. 

During the coming year, we will register all prospective students through the issue of National Identity Cards.

The rollout of the HELP studentships will commence during the opening of the first semester of the academic year 2020.

Many people are understandably hesitant to borrow money. Any loan is a serious commitment, and should not be entered into lightly.

Having said that, student loans are often necessary to make it possible for a young person to fulfil their university or college dreams.

HELP terms and provisions

The PNG Higher Education Loan Program (HELP), offers special terms and provisions that make them a more affordable and manageable commitment for young university or collegebound students.

Around the world, most student loans offer lower interest rates, but the PNG HELP is interest-free, provides for deferred payment options together with a repayment grace period following graduation.

Under the HELP, student borrowers can also take advantage of more lenient repayment plans and schedules that are exclusive to HELP, unlike the more restrictive terms and conditions of a standard loan.

HELP studentships offer greater flexibility and more manageable terms and conditions than standard non-education loans.

For many students, an education loan will be their first major financial transaction. While taking out a studentship may seem a daunting prospect, it is also the perfect opportunity to begin to build a solid credit history.

HELP is the beginning of many students' financial history. By keeping up to date on all university or college loan repayments a student can begin to lay the foundation of a good credit score, which will prove greatly beneficial in later life.

One of the many advantages of a HELP studentship is that the student does not need to repay before he or she graduates. The HELP scheme will allow students time to seek a job before repayments commence.

Generally speaking, students will begin repayments on their loan about six months after their graduation.

Benefits of HELP Loan

There are clearly many benefits of a HELP studentship.

Naturally, there will be students who are wealthier than others and who may not need to consider such an offer. However, for most students, a HELP studentship is a mean (way) of allowing them (poor students) to concentrate on their studies rather than worrying about the source of funding for their tertiary education.


Professor Fr. Jan Czuba
Secretary DHERST


Source: DHERST, HELP Studentships: What Are the Benefits? [ORIGINAL PDF DOC] released 13th January 2020

Note: The media statement was adapted for an easy read. The signed original copy can be found via the link above. 

HELP: HIGHER EDUCATION LOAN PROGRAM TO BE READY IN SECOND SEMESTER 2020

The government introduced, Higher Education Loan Program (HELP) will be ready for students to apply in the Second Semester of 2020.

nid and tin required tor HELP application
NID & TIN required for HELP application

KEY POINTS
  • DHERST will facilitate the Student Loan Scheme (HELP)
  • HELP application will open from 27th April 2020
  • Prerequisites for loan include National Identification Card (NID) and Tax Identification Number or (TIN)
  • HELP will be the only available Students’ scholarship in the future
  • Continuity of HELP per student is based on GPA
  • Help is available for higher education courses, PhD, Doctoral, Masters and other postgraduate programs
  • Student Application for the HELP loan is online
Department of Higher Education, Research, Science and Technology Secretary, Fr Jan Czuba in a statement says this an instruction from Prime Minister James Marape and DHERST Minister Nick Kuman.

Fr Jan Czuba said since it’s a new system being introduced; it requires some time from both the department and the students to finalise everything.

He said it also gives time to students to gather their required documents such as National Identification Card or NID) and Tax Identification Number or (TIN). These are important prerequisite requirements when submitting Applications for HELP.

HELP application will open from 27th April 2020, online via DHERST website and as notified in press and media advertising.

During the period of January to May 2020, there will be a transition from TESAS to HELP. DHERST will be working very closely with all Higher Education Institutions over the transition period to ensure that all students are well informed about HELP.

As of May 2020, TESAS awards will cease for good and HELP financing will commence. HELP will be the only available Studentship for all students for years to come.

HELP will provide student support for multiple years of study as long as students continue to meet the required academic and non-academic criteria.

HELP will also be available for PhD, Doctoral, Masters and other postgraduate programs, meeting the Government’s goal in providing a full range of quality education at the post-secondary level and beyond.

Fr Jan Czuba also announced the total amount of money each student attending tertiary institutions is eligible to apply.
“Students attending colleges and Poly-Technical colleges either public or private, as long as the colleges are registered by us and program accredited, the students will be eligible to apply K5000 per year.
“Students who are doing university level will apply for K10 000 per year.
 “Students who do Masters Degree or other Post-Graduate studies like Bachelors or Honors will apply for K15000 per year.
Students who are doing PhD or Doctorate can apply for K20 000 per year,” the Secretary outlined.

Fr Jan said, for a start, the students will receive less but as the year goes by the loan amount might increase.
“Currently we have the Students Higher Education Loan Program Handbook for students’ ready.“We have the Lease Agreement between students and Government is ready.“Now we are developing this electronic application and it should be ready soon, so students don’t have to go to the bank or come to us to get the application form.“They will go to the Website, they will download the form, fill them online and send them back to us, so the process will be very fast, said Fr Jan Czuba.
The Secretary said this will save time and cost for parents and students as everything will be done electronically.

In the meantime, Fr Jan Czuba said, those students on TESAS will continue but for self-sponsored students will have to meet their own registration fees for the first semester only.

SOURCE: NBC News | 08/01/2020 | Facebook Notes