HELB DISBURSES STUDENT LOANS TO VARIOUS INSTITUTIONS

by Rofina Media
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HELB DISBURSES

(HELB DISBURSES)The Higher Education Loans Board has disbursed funds to continuing students at universities and Technical and Vocational Education and Training Institutions (TVETs).

This is after the government issued a directive on the new method of funding higher education.

In a statement issued by the Chief Executive Officer (CEO) of HELB, Charles Ringera, the funds will be distributed to student’s bank accounts or HELB mobile wallets.

HELB DISBURSES: “Over 175,000 undergraduate students and 70,000 TVET continuing students will receive the funds under the Old Higher Education Funding Model (OFMO), “reads the part of the statement.

The funds are expected to be reflected in the student’s bank accounts as of October 5.

The deadline for first-time students applying for government funding is October 7, as earlier directed by Education Cabinet Secretary, Ezekiel Machogu.

They are required to apply for funding under the New Higher Education Funding Model (NFM) for both loans and scholarships.

Previously, before President William Ruto’s government introduced the new HELB model, each student under the government-sponsored program at the University was awarded between Sh.40,000 minimum and Sh.60,000 maximum per academic year.

However, the loan was disbursed in two installments, with part of the money being transferred directly into the institution’s account and the remainder being paid into the learner’s account.

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Contrary to the previous administration’s recently unveiled funding formula for Higher Education, HELB is required to allocate funds to students based on needs.

The exact formula and criteria for identifying needy students are still unclear.

Public universities and institutions have increased their tuition fees, which has posed a challenge to parents and guardians, for they can hardly afford it.

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The increase in fees is likely to force bright but needy students to drop out of school due to financial constraints.

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