The Higher Education Loans Board (HELB) on Wednesday announced that it has commenced the process of disbursing tuition loans to universities and TVET institutions.
In a statement sent to Kenyans.co.ke, the agency disclosed that it has disbursed loans to over 175,000 undergraduate students and over 70,000 TVET continuing students under the Old Higher Education Funding model through their preferred payment channels including bank accounts and mobile money wallets.
HELB announced that the students will receive the money by October 5, 2023.
The money is allocated for students taking degree, diploma and certificate courses at universities and Technical and Vocational Education and Training (TVET) institutions.
HELB's announcement came just days after students faulted the agency for failing to release funds on time and in some instances, failure to funnel the financing at all.
The government agency explained that they could not disburse money for first-time students who had applied through the New Higher Education Funding Model as the process was still ongoing.
The agency further disclosed that the cut-off date for first-time students applying for funding under the new Higher Education Funding model is October 7.
This is in line with the extension granted by Education Cabinet Secretary Ezekiel Machogu on September 5.
"The processing and disbursement of their loans & their scholarships for both tuition and upkeep will follow shortly after the cut-off date on October 7, 2023," HELB said in its statement.
Instructively, HELB's statement came one day after Multimedia University students took to the streets of Rongai Town to protest the delayed disbursement of tuition funds by HELB.
Politicians drawn from the opposition led by Embakasi East Member of Parliament Babu Owino also castigated HELB for delayed disbursement.
“Move with speed and release the money to comrades in various universities. This money is very little and it is never sufficient and furthermore, you are delaying it,” Owino regretted.