The Higher Education Loans Board (HELB) has extended the deadline for first time loan applications for undergraduate and Technical Vocational and Educational Training (TVET) students.
In a statement on Monday February 5, HELB announced that the students can still apply for the loans on the Higher Education Fund (HEF) portal.
“Don’t let financial stress hinder your dreams! The HEF portal is still open for Undergraduate and TVET first-time loan applications,” said the Board.
HELB encouraged university and TVET students to take advantage of the extension and get the funds.
“Seize this opportunity to empower your dreams. Log in now on https://portal.hef.co.ke and let your dreams take flight!” added the statement.
HELB 2024 Funds
This announcement comes after the Board received Ksh. 10.39 billion from the Ministry of Education to cater for students’ loans.
Education Cabinet Secretary Ezekiel Machogu on January 18 announced the disbursement of Ksh14.4 billion for scholarships and loans for university students.
Machogu said the disbursement was part of the second tranche to cover loans for first year government-sponsored students.
“The Government has released Ksh14.4 billion as the second tranche to cover scholarships and loans for Government-sponsored First Year students in universities under the New Higher Education Funding Model,” the CS stated then.
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According to Machogu, the loans will also cover semester two 2023/2024 Academic Year loans for continuing students.
Another Ksh3.98 billion was disbursed for scholarships through the Universities Fund (UF).
The Ministry noted that the released funds bring to Ksh 23.6 billion the total amount released by the Government for loans and scholarships in the current academic year.
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2023 Disbursements
In October 2023, the Government disbursed Ksh 5.3 billion for student loans and a further Ksh3.9 billion for scholarships for the first years under the New Funding Model.
Ksh10.3 billion was released to HELB in September 2023 to cater for continuing students’ loans in universities and colleges.
HELB said the disbursed loans and scholarships are for those who successfully made their applications through its portal, officially launched on the 31st of August 2023.
The ministry further noted that KSh.14.4 billion will be disbursed based on the applicant’s individual level of need under the New Funding Model.
