Government processes over 127,000 student loan applications under new funding model
By Maureen Kinyanjui |
Education Cabinet Secretary Julius Ogamba on Friday announced that Sh5.2 billion has been released to the Higher Education Loans Board (HELB) for tuition and upkeep loans.
The government has at least processed 127,591 student loan applications and categorised them under the five bands in the new controversial Higher Education Funding model.
Education Cabinet Secretary Julius Ogamba on Friday announced that Sh5.2 billion has been released to the Higher Education Loans Board (HELB) for tuition and upkeep loans.
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"Out of the funds released to the HELB, Sh2.8 billion has been released to the Universities Fund for scholarships," he said in a statement.
The CS noted that funds were being disbursed to the respective university and student accounts, upon ascertainment of students' reporting and admission.
The new model places students based on their financial needs, categorising them into five distinct bands that reflect the family's economic status, ranging from band one to band five.
Learners in Band 1 get 95 per cent government support; Band 2: 90 per cent; Band 3: 80 per cent; Band 4: 70 per cent while Band 5 receive 60 per cent.
Students across the respective bands are also entitled to Sh60,000, Sh55,000, Sh50,000, Sh45,000 and Sh40,000 upkeep loans.
The CS affirmed that the ministry was working round the clock to disburse the funds needed to facilitate the students by August 30, 2024.
Meanwhile, 12,598 students have filed complaints requesting to be reassigned to different categories.
There have been complaints that some disadvantaged learners have been placed in Band 5 whilst they deserve to be in Band 1.
However, CS Ogamba stated that the ministry has already started reviewing these appeals and will finalise them within three weeks of each submission
He also confirmed that the deadline for applying for funding has been extended from August 15, 2024, to December 31, 2024, to accommodate late appeals.
To ensure that all applicants are fairly categorised and no one is denied the funding they deserve, the ministry is working with officers from the National Government Administration Office in a multi-agency approach.
"These officers will assist in verifying the information provided by applicants from their respective jurisdictions, across all the 106,600 villages in the country," Ogamba added.
In addition, the government is asking university students applying for loans and scholarships under the new funding model to exercise honesty to ensure that funding decisions are based on accurate and verified information.
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