HELB: Students and Institution Receive Funds.
The Higher Education Loans Board (HELB) has begun the process of disbursing loans to students in universities and Technical and Vocational Education Training (TVET) institutions.
According to the HELB Chief Executive Officer (CEO), students will receive upkeep funds through their bank accounts or the HELB wallet.
Statistics from the board reveal that more than 175,000 and 70,000 students from universities and TVET institutions will receive loans under the previous university funding model.
Students should therefore check their bank accounts as of tomorrow, October 5, 2023. As a result, the government now encourages universities and colleges to register all students.
For students applying for government funding for the first time under the new funding model, the application deadline remains October 7, 2023. Therefore, students must apply for financing before the deadline expires.
Read also: University Funding Application Deadline Extension
According to the old funding model, every government-sponsored student would receive Sh40,000 to Sh60,000 annually.
However, loans were sent in two installments, with a section of each installment sent directly into the learning institutions fee account and the balance forwarded to student bank accounts.
In the new funding model, student loans and funding depend on every student’s level of need. However, it is unclear what the criteria for determining who needy students are.
In recent times, public universities have reviewed their fee upwards. The increase presents a potential problem for bright students from poor backgrounds to reach higher education levels.
Various education sector stakeholders have expressed dissatisfaction with the new funding model, terming it impractical. Multiple legislators, including the Embakasi East Member of Parliament Babu Owino, have urged student leaders to take action against the delayed disbursement of funds and the increase in university fees evident in almost all institutions of higher learning.
Read also: Babu Owino on Increased University Fee
HELB: Students and Institution Receive Funds.