New Funding Model Promotes Equity and Inclusivity, Universities Fund CEO
Universities Fund CEO, Geoffrey Monari, recently defended the new Funding Model, emphasizing its promotion of equity and inclusivity.
During a two-day media sensitization workshop on students’ placement process and the new higher education funding model held at Lake Naivasha Resort, Monari explained that the model would provide financial assistance to all students based on their level of need.
Additionally, he stated that students who scored C+ and above would be eligible for funding.
Under the new Funding Model, universities can expect an increased cash flow of Sh20.3 billion.
Monari expressed his belief that this boost in funding would motivate universities to raise additional resources and improve the quality of education in order to attract more students.
The workshop was attended by Mercy Wahome, the CEO of the Kenya Universities Central Placement Service (KUCCPS), and Ndegwa King’ori, the head of lending at the Higher Education Loans Board (HELB).
CEO Monari expressed confidence in the success of the Funding Model, citing the unwavering support of President William Ruto and Education Minister Ezekiel Machogu.
Monari believes that this new funding model is the best option for higher education and that it should have been implemented sooner.
He also mentioned that the funding distribution would be based on vulnerability, and the actual program cost would determine the amount of financial assistance provided to students.
Review of University Funding
Monari highlighted the need to review the university funding policy and framework to determine fees for different categories of students, including government-sponsored, privately sponsored, and foreign students.
This review would be done periodically to account for inflation.
Furthermore, the funding model would categorize students into three levels of need: vulnerable, less vulnerable, and able.
Placement Process and Scholarships
During the workshop, Education Cabinet Secretary Ezekiel Machogu officially launched the KUCCPS portal, enabling candidates to apply for courses.
Machogu announced that all 173,127 candidates who achieved the minimum university entry grade of C+ would qualify for placement in degree programs.
Students with a C plain grade and below would be absorbed into Technical and Vocational Education Training Institutions (TVET) institutions.
For those selected in public institutions, a “fool-proof tool” would be available to assess their eligibility for government scholarships.
The funding model would provide scholarships of up to 53% and loans of up to 40% for students from less needy households.
Able students would receive funding of up to 38% of the program’s cost as scholarships and 55% as loans.
Students joining TVETs would receive funding of 32% through government scholarships and 48% through government loans.
New Funding Model Promotes Equity and Inclusivity, Universities Fund CEO
