HELB starts disbursement of student loans with first applicants under new funding model set to receive their after stipulated deadline.
The Higher Education Loans Board [HELB] has started the disbursement of tuition loans to Universities and TVET Institutions.
In a press statement to newsrooms on Wednesday, October 4, HELB noted that funds for students were being released to their respective payment channels.
“The upkeep loans for the over 175,000 undergraduate and over 70,000 TVET continuing students under the Old Higher Education Funding Model [OFM] is currently being disbursed to students as per their respective preferred payment channels [Bank account or HELB Mobile Wallet],” part of the statement read.
HEL CEO Charles Ringera requested that universities and colleges allow students to register pending funds disbursement.
“Higher Learning Institutions (HLIs) – Universities and Colleges are advised to allow students to register as tuition fees to various institutions have also been released and should reflect in the respective bank accounts of the HLIs by 5th October 2023,” Ringera stated.
Meanwhile, the First-Time students applying for Funding under the New Higher Education Funding Model [NFM] for both Loans and scholarships, the deadline for application is 7th October 2023.
The processing and disbursement of their Loans and scholarships for both tuition and upkeep will follow shortly after the stipulated deadline.
The announcement comes barely a day after students of Multimedia University went on a rampage to protest over what they termed as a delay in the disbursement of money by HELB.