New Varsity Fees may burden students with loans.
New Varsity Fees may burden students with loans.
The updated model’s amended costs for each individual university programme have been made public by the government for new university students. Some students won’t have to pay their tuition up front; instead, they’ll need to borrow money from the government to pay their remaining expenses. Due to the pervasive unemployment condition, this change may result in increased levels of debt among Kenyans.
According to the Ministry, this new funding strategy intends to boost university enrolment while relieving financial pressure on institutions that are struggling under heavy debt loads and unpaid invoices.
The concept divides students into categories according to their level of financial need, from the most vulnerable to the least. Access to government-funded loans and scholarships is made possible through the framework.
The household income of students in the vulnerable group is zero, while that of students in the greatest need is approximately Ksh23,671 per month. Less needy students make between Ksh70,001 and Ksh200,000 per month, while those in need earn between Ksh23,672 and Ksh70,000.
When determining the degree of need, the Higher Education Loans Board (HELB) Means Testing Instrument will take into account a variety of elements, including parental background, gender, course type, prior education, and more.The New Funding Model will get Ksh39.4 billion from the government in the fiscal year 2023-2024. The remaining Ksh18.6 billion will be provided during the Supplementary 1 phase of the same fiscal year, while an additional Ksh12.5 billion has already been allocated this year to support the model.
By September 7, students must submit their free applications on the official website hef.co.ke for loans and scholarships. Verification typically takes seven days, and grant delivery happens quickly after that.As of August 23, 2023, university and TVET students had submitted 75,272 successful applications. The Ministry of Education anticipates that 145,060 TVET students and 140,107 university students will submit applications by the deadline.
Depending on their needs, university students will receive varied amounts of financial aid. Extremely needy students will receive 70% scholarships and 30% loans, while vulnerable students would receive 82 percent scholarships and 18 percent loans. Students in need will get 53% in scholarships, 40% in loans, and 7% from their families. Less needy students will receive a 38% scholarship, a 55% loan, and a 7% family contribution.
The support for TVET students will also be given on a sliding scale. Extremely needy students will receive 70% scholarships and 30% loans, needy students will receive 50% scholarships, 30% loans, with families contributing 20%, and less needy students will receive 32% scholarships, 48% loans, and 20% from their families. Vulnerable learners will receive an 80% scholarship and a 20% loan.Furthermore, depending on their level of need and whether they are attending universities or TVET institutions, students will receive maintenance allowances ranging from Ksh13,600 to Ksh60,000.The prices for five distinct university programs illustrate how a student’s financial aid depends on the course they choose. Degrees in medicine, law, education, the arts, and business are among them.
