Government disburses Sh14.4 billion for university scholarships and loans
By Patel Okumu |
The Kenyan government has released Sh14.4 billion to cover scholarships and loans for first-year university students under the new Higher Education Loans Board (HELB) and Universities Fund disbursement model.
The Kenyan government has released Sh14.4 billion to cover scholarships and loans for first-year university students under the new Higher Education Loans Board (HELB) and Universities Fund disbursement model.
This latest tranche, announced by Education Cabinet Secretary Ezekiel Machogu on Thursday, marks the second round of funding for the 2023/24 academic year. It covers both first-year scholarships and loans, as well as second-semester loans for continuing students.
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"Of the total amount, Sh10.39 billion will go towards loans under HELB, while Sh3.9 billion will be disbursed for scholarships through the Universities Fund," Machogu said.
This brings the total government investment in first-year student funding to Sh23.6 billion since their September 2023 enrolment. Previously, the government released Sh10.3 billion for continuing students and an additional Sh9.2 billion for first-year students in both loans and scholarships.
On Wednesday, the government also released Sh1.192 billion to Technical and Vocational Education and Training (TVET) institutions nationwide. These funds will support tuition, training materials, utilities, and curriculum activities, according to a statement from TVET PS Esther Muoria.
Machogu emphasized that the Sh14.4 billion will be allocated based on need as defined by the new funding model. Only students who successfully applied through the Higher Education Financing portal before the August 31, 2023 deadline will be eligible.
Universities will receive scholarship portions directly for their students by Friday, January 19, 2024. Meanwhile, HELB will channel loans and scholarships directly to respective universities and colleges, with upkeep funds deposited to student bank accounts or mobile phones.
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