Over 140,000 students who had applied for High Education Loans Board (HELB) funding were dealt a huge blow on Wednesday, March 22, after the higher education funding body confirmed that they would miss funding.
HELB’s Chief Executive Officer (CEO) Charles Ringera made the revelation when he appeared before the National Assembly Committee on Education and noted that the Board had run out of cash.
Parents who have students in universities and Technical and Vocational Education and Training (TVET) institutes will have to dig deeper into their pockets to keep their children in school. The affected individuals will be drawn from; public and private universities, colleges and TVET institutions.
“Currently we have 140,000 students in TVETS and universities that we have not been able to fund to the tune of Ksh5.7 billion,” Ringera told the committee.
Ringera though offered a flicker of hope to students confirming that the board had made a request to the Treasury for the funding.
According to the CEO, the board had requested for Ksh4.5 billion from the Treasury but was yet to be disbursed.
HELB loan helps keep students from poor backgrounds in school by providing funding for accommodation, tuition and upkeep.
With the rising cost of living, HELB’s failure to release the funds in a timely manner will see many students drop out of school.
The delay in disbursement will also affect students poised to join universities and TVET institutions starting from September 2023.
On Tuesday, March 14, the Ministry of Education revealed that it was looking at recommendations to raise fees for public universities from Ksh16,000 to Ksh48,000.
If the changes are effected, it will place an extra burden on parents who will fork out the whole amount in the absence of HELB funding.
The financial woes piling on HELB are at a time when President William Ruto’s government has proposed disbanding the body.
On December 31, 2022, Ruto revealed that he would create an alternative body to offer funding for students pursuing tertiary education.
“Instead of different funding systems, the government will establish the National Skill and Funding Council (NSFC) that will amalgamate the existing funding bodies,” the President announced back then.
