Gov’t releases Sh14.4bn for university loans scholarships
Gov’t releases Sh14.4bn for university loans scholarships
According to Education Cabinet Secretary Ezekiel Machogu, the government has distributed Sh14.4 billion as the second tranche of funds for loans and scholarships, serving first-year university students under the new funding model. This funding, which is a part of the 2023–2024 school year, is divided into Sh3.9 billion for scholarships through the Universities Fund and Sh10.39 billion for loans through the Higher Education Loans Board (HELB).
The latest payment comes after Sh10.3 billion in loans were first made available in September 2023 for continuing students pursuing technical and vocational education and training (TVET) as well as university studies. Furthermore, Sh3.9 billion in scholarship monies and Sh5.3 billion in loans were set aside for first-year students. Since September 2023, when first-year students began enrolling, a total of Sh23.6 billion in government monies had been released.
Machogu clarified that the Sh14.4 billion will be distributed based on financial need under the new university funding model. Eligibility is limited to students whose applications on the Higher Education Financing portal were successful before the August 31, 2023, deadline.
The Universities Fund will directly transfer tuition fees to universities, while HELB will channel loans and scholarships directly to universities and colleges, with upkeep funds going to respective student bank accounts or mobile phones.
On May 3, 2023, President William Ruto unveiled a new funding strategy with the goal of giving kids from low-income families priority. Four categories of need are used by the approach to classify funding: vulnerable, severely needy, needy, and less needy. A scientific procedure called the Means Testing Instrument (MTI) is used to determine each student’s specific financial needs.
The initial beneficiaries of this model were students who took the KCSE exams in 2022, with 173,127 joining universities and 145,325 enrolling in TVET institutions in September 2023. The second cohort, comprising candidates who sat the KCSE in 2023, is set to benefit from this funding model, marking a strategic approach to supporting higher education and technical training in the country.
