First Year university and Technical and Vocational Education Training (TVET) students are set to receive their long-awaited loans from November 7, Education Cabinet Secretary Ezekiel Machogu has announced.
The loans will be disbursed under the new Higher Education Funding model covering tuition and upkeep costs.
Mr Machogu has asked all students to verify their bank details as provided in their loan applications and ensure they are accurate and up to date.
“Consequently, the Ministry wishes to inform successful applicants that the funds will be disbursed to their respective universities and student accounts starting Tuesday 7th November, 2023,” said Machogu on Friday.
The Kenyan government allocated Ksh19.6 billion to fund university students as the new funding model came into effect in September.
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The model previously categorised students into vulnerable, extremely needy, needy, and less needy students that would see some learn for free. However, this has been revised to ensure every student pays at least some percentage of the fees.
For the vulnerable, the government would contribute 82 percent for scholarship funds and the remainder provided as a loan.
The extremely needy were on the 70:30 plan for scholarship and loans in that order.
It remains to be seen which formula will be used in disbursing the scholarship and loan cash.
Geoffrey Monari, the CEO of the Universities Fund, noted that the government had earmarked Sh34.1 billion to fund continuing students under the old funding model of differentiated unit cost for 2023/2024 financial year.
On the new model, Mr Monari said 130,485 students placed in public universities would receive both government scholarships and loans based on their level of need.
Approximately 92,350 students, constituting 29 percent of those who joined universities and TVET institutions this year, were identified as vulnerable and extremely needy.
editor@aplain.co.ke
