University students are to get Sh15,000 each in the new HELB disbursement schedule released by education Cabinet Secretary Ezekiel Machogu, the lowest in Kenya’s history.
The government Friday disbursed Sh2.7 billion for 180,000 students for government-sponsored students in public and private universities.
According to the circular from the Ministry of Education, the disbursement was done to aid students in registering for their end-of-semester examinations for the 2022/2023 Academic Calendar.
“To enable the affected students to be registered with their respective universities ahead of the examinations, I wish to announce that The National Treasury and Economic Planning has released Sh2.7 billion for the student loans and bursaries for 180,000 legible students. The funds have been sent to the Higher Education Loans Board for further disbursement to eligible students,” Machogu said.
He assured the affected students that they will be legible to register ahead of the examinations.
“Further, I direct all universities to ensure that all beneficiaries of the loans and bursaries are given the opportunity to sit their end-of-semester examination as scheduled,” Machogu added.
This comes after President William Ruto talked of plans to scrap the HELB loan and merge the three funding bodies in the higher education sector.
Ruto said the government will establish the National Skill and Funding Council that amalgamates HELB, TVET, and University Funding Board.
He added that the move will bridge the current higher education funding gap of up to 45 percent.
Ruto said this plan will double the HELB funding from Sh11 billion to Sh22 billion and even eliminate HELB loan interests.