Higher Educations Loans Board (HELB) flagged a notice claiming that a set of students was set to miss out on funds disbursement for two years.
HELB indicated that the post was misleading and did not emanate from its verified social media platforms.
The fake social media post insinuated that students with batch numbers 4260 and 4389 would start receiving their funds in 2024.
It attributed the cancellation to an alleged directive by the National Treasury declining to remit funds to HELB coffers for the financial year 2023/ 2024.
"It has come to our attention of a photoshopped picture circulating on social media purporting that it is from HELB.
"This is to confirm that it is fake news," HELB insisted.
The post started making rounds after some applicants raised concerns over delays in the disbursement of funds. Most students from higher learning institutions expressed dissatisfaction with the board, claiming they were struggling to pay school fees and purchase meals.
"We are currently working on the disbursements, and that shall be communicated once the payment is made," HELB responded to raised concerns.
HELB started receiving applications for the 2022-2023 academic year in July 2022. The programme targeted students placed by the Kenya Universities and Colleges Central Placement Services (KUCCPS).
Students enrolling in public universities recognised by Commission for University Education (CUE) were also listed for the funds.
HELB set the deadline to November 30, 2022, allowing more students to enrol on the programme.
Undergraduate university students receive loans ranging from Ksh40,000 to Ksh60,000 per year. They are expected to start repaying the credit immediately after graduating.
Former President Uhuru Kenyatta rejected some reforms in the HELB sector that sought to allow beneficiaries to repay the loans after securing employment.
