Helb begins disbursing Sh8.2 billion loan to first years under new funding model
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Higher Education Loans Board (Helb) starts disbursing Sh8.2 billion loan to first years in universities and technical vocational education and training colleges (TVETs)
Higher Education Loans Board (Helb) starts disbursing Sh8.2 billion loan to first years in universities and technical vocational education and training colleges (TVETs).
Speaking to the media, Helb chief executive Charles Ringera said the scholarships, loans, and bursaries would be released under the new funding system.
According to Mr. Ringera, the first recipients of the batch will be 96,000 students at public higher education institutions and roughly 9,655 students at private universities.
The disbursement comes as a relief for the learners under the new model of funding that categorized students from less needy to the vulnerable using a means testing tool.
The Ministry of Education had instructed universities to admit new students without requiring payment of fees due to delays in disbursement.
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“We have started disbursing the funds for learners under the new funding model that will cover semester one of their studies,” he said on Thursday.
“The back of the envelope number is about Sh8.2 billion for semester one for university and TVET students.”
The Helb boss said first-time applications will continue until the government advises otherwise.
Helb said it required Sh10 billion from the Treasury to process loan applications.
Under the old model, Helb funded needy students to the tune of between Sh35,000 and Sh60,000 per year, but the average allocation has dropped from Sh47,000 to Sh37,000.
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