As Rwanda continues to prioritise human capital development, expanding access to higher education remains central to unlocking the country’s long-term economic and social potential. However, financing higher education remains one of the most significant barriers for many students. In response, key stakeholders across the education and financing ecosystem are increasingly exploring collaborative approaches to ensure more students can access and complete tertiary education. On February 19, policymakers, university leaders, student financing institutions, development partners and alumni gathered at the Kigali Convention Centre for a roundtable discussion themed “Partnerships for Student Financing: Unlocking Opportunities for Rwanda’s Future.” The dialogue was co-hosted by Chancen International Rwanda and the Higher Education Council (HEC) during the Global Learning Conference organised by the Villars Institute. The roundtable brought together 28 participants representing institutions including the Higher Education Council, Development Bank of Rwanda (BRD), Swedish Embassy, British Council, Expertise France, King Faisal Hospital Rwanda Foundation, African Leadership University, Kepler College, INES Ruhengeri, Institut Catholique de Kabgayi, Muhabura Integrated Polytechnic College, University of Technology and Arts of Byumba (UTAB), East African Christian College, and the Catholic University of Rwanda. Participants reflected on the current student financing landscape in Rwanda, examined how private student financing initiatives are perceived in the market, and discussed the gaps that must be addressed to strengthen a sustainable and inclusive financing ecosystem. Government scheme under pressure A key topic of discussion was the sustainability of the government student loan scheme overseen by the Higher Education Council and implemented through the Development Bank of Rwanda. According to BRD, approximately Rwf432 billion has been disbursed in student loans over the years, while about Rwf54 billion has been recovered — highlighting ongoing challenges related to repayment compliance and long-term sustainability. HEC Director General Dr. Edward Kadozi described the situation as paradoxical. “We are observing continuing regressive trends in government student financing while expecting more enrollment,” he noted. Participants observed that limited loan slots, rigid repayment thresholds, and administrative challenges continue to prevent many qualified students from accessing support. As a result, some defer admission, while others abandon their academic ambitions altogether. Beyond the government scheme, discussions emphasised that no single financing model can adequately address the diverse needs of students, reinforcing the need for a more inclusive and diversified financing ecosystem. Exploring innovative financing approaches During the roundtable, stakeholders discussed emerging student financing approaches that aim to complement traditional loan systems and respond to the realities of today’s labor market. Desire Gacinya from HEC noted that Rwanda’s financing landscape already includes government loans, partnerships with international organisations, and private sector-led initiatives, with recovered funds reinvested into financing additional students. However, he emphasised that a combination of models is necessary to ensure students can access financing that best fits their circumstances. Among the private sector examples discussed was the Income Share Agreement (ISA) model implemented by Chancen International, which allows students to access education without upfront tuition payments and repay based on their income after employment. The model was highlighted as one of the innovative approaches contributing to expanded access, while also aligning repayment with employment outcomes. Marie Vicart from Expertise France highlighted the potential of blended financing models combining loans, grants and scholarships, and encouraged stakeholders to develop locally driven, evidence-based solutions to mobilise further investment into education financing. Representatives from the Development Bank of Rwanda also shared insights on ongoing reforms aimed at strengthening the system, including automation, payroll-linked deductions, and improved data analytics to better align financing with employment opportunities. The role of institutions and private sector collaboration Another key theme of the dialogue focused on the role that higher learning institutions and private sector actors can play in expanding access to education financing. Elizabeth Tolu Ojo from the African Leadership University emphasised the importance of ensuring that students have clear financing pathways before admission to reduce dropout risks. She encouraged institutions to integrate financial literacy, scholarships, and partnerships with financing providers into their student support systems. Similarly, Emmanuel Bahufite from INES Ruhengeri highlighted the importance of quality education, practical learning, and internships in improving employability, which is critical for the sustainability of financing models linked to income. Participants also discussed the growing role of private student financing initiatives, including models implemented by organisations such as Chancen International Rwanda, in complementing public schemes and expanding opportunities for students who may not qualify for government support. At the same time, stakeholders emphasised the need for stronger collaboration among private sector actors, noting that partnerships and coordinated strategies will be essential to build trust, scale solutions, and strengthen the overall financing ecosystem. Policy engagement and ecosystem solutions The discussion underscored the importance of greater involvement of policymakers in shaping an enabling environment that supports innovation in student financing. Theodore Dusabimana from HEC highlighted existing regulatory gaps, including limited frameworks for private sector participation, insufficient financing relative to demand, and the absence of certain policy instruments to guide the sector. Development partners also proposed potential solutions to strengthen the ecosystem. Martina Fors from the Swedish Embassy suggested exploring investor incentives, tax reductions for education-related investments, and stronger measurement of social impact to attract additional funding. Participants agreed that policy support will be critical to attracting more investment into private student financing initiatives and ensuring that these models can scale sustainably while protecting students. Student perspectives on access to education Beyond policy discussions and financial data, alumni testimonies underscored the real-life impact of student financing. For Pascaline Ishimwe, accessing university education once seemed financially impossible until she secured financing through an Income Share Agreement supported by Chancen International Rwanda. With reduced financial stress, she was able to focus fully on her studies and successfully transition into employment after graduation. Similarly, Frank Kimenyi, an alumnus of Kepler College, explained how he nearly abandoned his studies after failing to secure traditional scholarship opportunities. He emphasised that the availability of innovative private financing models, including those introduced by Chancen, made it possible for students like him to pursue higher education. Participants also noted that students often face additional barriers beyond tuition, including living expenses, digital access, academic preparedness, and retention challenges. As a result, effective financing solutions must be complemented by broader student support systems. From dialogue to sustained collaboration The roundtable concluded with a shared understanding that closing Rwanda’s student financing gap will require sustained collaboration among government institutions, private sector actors, universities, and development partners. Key recommendations included reviewing repayment thresholds, strengthening compliance mechanisms, improving awareness of financing options, promoting financial literacy, and exploring blended financing models that combine public, private, and philanthropic resources. The discussion marked the beginning of continued engagement between private sector stakeholders and the Higher Education Council (HEC) to further develop and strengthen student financing solutions in Rwanda. Participants also called on more institutions, investors, and partners to actively engage in future initiatives and dialogues aimed at expanding access to higher education financing. “Education is not only a personal dream,” one participant noted. “It is a national investment. When we expand access to financing, we expand the country’s future.”
