The Higher Education Loans Board (HELB) has announced the dates it will disburse loans to first year University and TVET students under the New Funding Model.
In a press release on Friday November 3, Education Cabinet Secretary (CS) Ezekiel Machogu said the funds will be sent to their respective universities and student accounts starting Tuesday, November 7, 2023.
“The Higher Education Loans Board has finalized the processing of loans for First Year students in universities and TVETs under the New Higher Education Funding Model.
Consequently, the Ministry wishes to inform successful applicants that the funds will be disbursed to their respective universities and student accounts starting Tuesday 7 November 2023,” read the press release.
Further, CS Machogu directed the applicants to ensure that their bank information is correct to ensure easy disbursement of the loans.
“Students are advised to ensure that their bank details, as provided in the application for the loans, are correct and up to date,” it added.
Students Protest Delayed HELB Loans
On Thursday, November 2, Machakos University students staged protests over the government’s failure to disburse the HELB and the Higher Education Funding (HEF) for First-year students.
The student leaders affirmed they were leading peaceful demonstrations since the students have not yet received any funds from the government.
According to them, some students would miss examinations since they could not register for their various units and life had become unbearable.
Also Read: HELB Announces Disbursement of Student Loans
“Some first-year students have paid as little as low as Ksh 9700, since they were expecting to get funds from the government,” the Student’s Finance Leader noted.
In a joint statement, the student leaders noted that the government promised to disburse university capitation in the first two weeks after opening.
This followed the demonstrations by Multimedia University students on October 3 over similar concerns.
Earlier, Embakasi East Member of Parliament, Paul Ongili, alias Babu Owino, had shared a video wondering why the student leaders were quiet when the government had not released the HELB funds.
New Funding Model
President William Ruto launched the new funding model to favor vulnerable and extremely needy students in May 2023.
Ruto said the funding will be through government scholarships, loans, and bursaries.
According to the model, needy students joining universities will receive scholarships of up to a maximum of 53 per cent and loans of up to 40 per cent.
Additionally, the families will only pay seven per cent of the cost of their university education.
However, those joining TVETs will receive Government scholarships up to a maximum of 50 per cent and 30 per cent in loans.
Also Read: University Students Go on the Rampage After HELB Delays
Likewise, such households will pay 20 per cent of the costs.
Furthermore, the model stipulates that the less needy students joining universities will be funded through a government scholarship of up to a maximum of 38 per cent of the cost of the programme and 55 per cent in the form of loans.
As such their households will only cater for seven per cent.
Students joining TVETS will be funded 32 per cent for government scholarship, 48 per cent for loans and their parents or guardians will pay 20 per cent of the cost.
