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Treasury To Cut Varsity Funding To Sh91.2 Billion Amid Financial Struggles

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Treasury To Cut Varsity Funding To Sh91.2 Billion Amid Financial Struggles

Treasury To Cut Varsity Funding To Sh91.2 Billion Amid Financial Struggles.
Treasury proposes cutting university funding by 5.4% to Sh91.2 billion, indicating that institutions of higher learning will continue struggling.
The proposed allocation for the fiscal year beginning in June is Sh5.21 billion less than the current fiscal year’s allocation of Sh96.41 billion, which includes an initial allocation of Sh87.84 billion and supplementary budget support of Sh8.57 billion.
University education received Sh116.94 billion in the 2019/2020 fiscal year, but the allocation has been decreasing, putting a strain on universities that are also dealing with a declining student population.
The funding gap for public universities has more than doubled in two years, reaching Sh27 billion in the current fiscal year, according to data from the Universities Fund, an institution that guides the allocation of State cash to public universities.
Kenya has about 102 public universities and campuses, which had a Sh6.2 billion deficit in the fiscal year ended June 2021, despite receiving about Sh70 billion from the exchequer.
Universities have been struggling to survive as a result of reduced state funding, with some, such as the University of Nairobi, opting to raise school fees to make up the difference.
In recent years, the Treasury has reduced its allocation to universities in response to perennial revenue shortfalls and debt payment obligations that have increased pressure on the Exchequer.
This comes at a time when student enrollment in parallel programs is declining, leaving many institutions of higher learning with idle capacity.
Many students who are eligible for self-sponsorship courses at universities have opted for Technical and Vocational Education and Training (TVET) institutions, aided by expansion and tuition fee funding from the state.
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As a result of continuing defaults on statutory obligations and payments to contractors, universities have been forced to close several campuses.
Egerton University, Moi University, Laikipia Kisii University, and Jomo Kenyatta University of Agriculture and Technology are among the universities that have closed some of their campuses due to low enrollment and a lack of funds.
Treasury To Cut Varsity Funding To Sh91.2 Billion Amid Financial Struggles

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