The government has revealed its intentions to merge the Kenya Universities and Colleges Central Placement Service (KUCCPS) and the Higher Education Loans Board into a single entity.
Under a new bill proposed by the Ministry of Education, these two bodies will be replaced by the Tertiary Education Placement and Funding Authority.
The proposed Tertiary Education Placement and Funding Bill, 2024, details that the authority will have 10 main roles including placing students in tertiary education and provision of student loans.
"The functions of the Authority shall be to provide funding for infrastructure development and maintenance in tertiary institutions; establish a tertiary education savings scheme; disseminate information on available programmes and their costs and mobilize resources to augment Government allocation for tertiary education," read the bill in part.
Other functions of the Authority include; providing coordinated career guidance to individuals intending to pursue tertiary education, establishing and maintaining a system for data management related to student placement and tertiary education funding, and administering the Fund established under this Act.
Additionally, the Authority will advise the Education Cabinet Secretary on matters concerning placement and funding.
Loan Repayment
Another notable change that will be effected on student loans is the repayment model.
As proposed in the bill, students will be required to start repaying their loans, a year after completing their studies.
Upon getting employment, beneficiaries will also be required to inform their employers of the status of their loan.
"Every employer of a loanee shall inform the Authority in writing within three months of such employment of a loanee; deduct from the wages or remuneration of the loanee such monthly amounts as may be determined by the Authority until payment in full or exit from their employment whichever is earlier," the government proposed.
Employers will be required to remit deductions within fifteen days after the end of each month
Similarly, individuals in the employment sector will enter into an agreement with the government regarding a repayment schedule.
"The Authority shall develop a framework for the recovery of loans from borrowers residing outside Kenya," as outlined in the proposals.
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