Government announces disbursement of Helb loans from Tuesday next week
By Dennis Tarus |
Students have been advised to ensure that their bank details, as provided in the loan application, are correct and up to date.
The Higher Education Loans Board (Helb) has announced it has finalised the processing of loans for first-year university students and Technical and Vocational Education and Training (TVETs) under the New Higher Education Funding Model.
The Ministry of Education through a press statement issued on Friday announced that the funds will be disbursed to the respective universities and student accounts starting next week Tuesday, November 7, 2023.
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"Students are advised to ensure that their bank details, as provided in the loan application, are correct and up to date," Education Cabinet Secretary Ezekiel Machogu said in the statement.
In May this year, President William Ruto unveiled a new funding model that is set to support students based on their level of need rather than the previous arrangement that provided equal funding to all students who qualified for university placement.
Students will now get government funding in the form of scholarships and loans.
Under the new model, funding will be student-centred and be apportioned according to their levels of need classified into four; vulnerable, extremely needy, needy and less needy.
Students falling under the vulnerable and extremely needy band will qualify for 100 per cent government funding in the form of loans and scholarships.
Those from needy and less needy households will get 93 per cent of government funding, with the students bearing seven per cent of the tuition costs.
Needy students joining universities will receive government scholarships of up to a maximum of 53 per cent and loans of up to 40 per cent.
Their households will only pay for seven per cent of the cost of their university education.
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