SFAR calls for coordinated loan repayment system

The Director of the Loan Recovery Unit at the Student Financing Agency for Rwanda (SFAR), Desire Gacinya, has called upon former beneficiaries to cooperate with their employers if payments are to be made efficiently. Gacinya said this after the agency discovered that some employees forward higher repayment amounts than what their employers should pay. “We are set to refund the excess amount paid---proper coordination as regards payments is required between employers and employees in a bid to eliminate the expenses and time wasted during refunds,” he said. According to Gacinya, the body forwards all the useful information that includes the amounts expected from employees adding that the tendency of employers making payments and not declaring this information to SFAR is illegal.

The Director of the Loan Recovery Unit at the Student Financing Agency for Rwanda (SFAR), Desire Gacinya, has called upon former beneficiaries to cooperate with their employers if payments are to be made efficiently.

Gacinya said this after the agency discovered that some employees forward higher repayment amounts than what their employers should pay.

“We are set to refund the excess amount paid---proper coordination as regards payments is required between employers and employees in a bid to eliminate the expenses and time wasted during refunds,” he said.

According to Gacinya, the body forwards all the useful information that includes the amounts expected from employees adding that the tendency of employers making payments and not declaring this information to SFAR is illegal.

SFAR managed to hit the target of Rwf 1.7 billion last year.

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