HELB Loans Out on Tuesday: CS Machogu Directive to Students. University and College Students to Receive Up to Sh60,000 Next Week as the government resolves the ongoing funding impasse.
In the wake of university student demonstrations over the delayed disbursement, the Higher Education Loans Board (HELB) loans for TVET and university students will be released by the Ministry of Education on Tuesday, November 7.
Education Cabinet Secretary Ezekiel Machogu announced in a statement on Friday that the processing of loans for first-year university students and TVETS under the new Higher Education Funding Model had been completed by HELB.
Machogu informed reporters that the Higher Education Loans Board had completed the processing of loans for first-year students in universities and TVETs under the New Higher Education Funding Model.
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He also stated, “The Ministry has conveyed to the successful applicants that the funds would commence disbursement to their respective universities and student accounts starting on Tuesday, November 7, 2023.”
The revised financing formula was adopted at a State House meeting this week, according to information obtained by The Saturday Standard. The meeting was attended by advisors of President William Ruto, officials from the ministry of education, and officers from the two higher education funding institutions.
As mandated by the revised formula, parents of college and university students are obligated to contribute a different proportion of the students’ fees.
In accordance with the financial strength of households, the revised formula eliminates the classification of students as vulnerable, extremely needy, needy, or less needy and establishes five categories with a boom of between Sh40,000 and Sh60,000.
If the government fulfills its commitment, universities and students will receive a substantial financial reprieve approximately two months subsequent to the commencement of the academic year without any financial assistance.
However, students are relieved of a significant setback for the “comrades,” as funds will now be deposited into their accounts. In fact, some students have even organized demonstrations in an attempt to obtain the funds.
Students who had submitted loan applications through the Higher Education Financing Portal were requested to verify the accuracy of the bank information included in the loan applications.
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The statement provided is a response to a series of demonstrations coordinated by students from various educational institutions. These protests were due to the delay in the disbursement of funds.
On Thursday, Machakos University students clashed with anti-riot officers and police officers in the streets, while also demanding that the Education Ministry take action.
Commencing at 8:00 am, the road leading to the university was rendered impassable due to the students’ bonfires.
In retaliation, police officers advocated for the distribution of teargas to the students.
A similar incident transpired in early October when students from Multimedia University obstructed Magadi Road, the primary entrance to Ongata Rongai Town in Kajiado County.
Government sources reveals that the revised formula was approved at the State House meeting and is currently awaiting Ruto’s approval.
This signifies that all students who submitted applications for scholarships and loans have been classified and will be eligible to receive stipends as part of the revised funding scheme.
As per the approved framework, students categorized in band one will be granted 70% scholarships, 25% loan assistance, and a supplement of Sh60,000 to support their living expenses. A five percent fee will be paid by their parents.
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Band two students will get 60% scholarships, 30% loans, and Sh55,000 for maintenance. A 10% contribution from their parents will be required towards the expense.
Students in band three are eligible to receive 50% scholarships, 30% loans, and a Sh50,000 maintenance surge. Parents will be responsible for 20% of the expense.
Band four students will get 40% scholarships, 30% loans, and Sh45,000 for maintenance. Parents are responsible for 30% of the cost.
Individuals in band five will get 30% scholarships, an additional 30% for loans, and Sh40,000 for maintenance. Households are responsible for 40% of the expenditure.
Yesterday, Machogu advised students to verify the accuracy of their bank information.
The ease of concerns expressed by universities regarding the impending crisis in institution administration is why the release of funds for first-year students will come as a relief.
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In order to sustain their operations, institutions found it necessary to utilize funds allocated for ongoing students, a measure enforced due to the delay in funding.
The Vice Chancellors of several universities have revealed that they had to rely on resources earmarked for existing students to ensure the continuity of their operations.
Student leaders expressed their opinion, contending that the postponement negatively impacts economically disadvantaged students who rely on Helb-provided loans for fundamental necessities such as shelter and sustenance.
University and College Students to Receive Up to Sh60,000 Next Week