Financial shock for university students
Through the recently launched Higher Study Financing Portal, students who have been accepted to universities and other higher education institutions can begin applying for financial aid for their studies on Thursday.
This unquestionably signals the end of publicly funded higher education, which was previously provided to students regardless of their financial situation. Students now have just one month left to submit their financing applications before the start of the academic year at universities and technical and vocational education and training (Tvet) institutions in September.
Government loans, bursaries, and scholarships will be used to cover the cost of tuition, with the former being given priority to those who are weak and extremely poor. More loans will go to those who are less in need, while fewer scholarships would go to those who are more in need.
In addition, as in the past through the Higher Education Loans Board (Helb), students will submit loan applications to cover their living expenses while enrolled in classes. All applications for loans, bursaries, and scholarships must now be made on the new website.
Students who don’t qualify for or don’t get enough government aid will have to spend more out of pocket for their education.
The government has created and finished the Higher Education Financing Portal to receive applications for scholarships, loans, and bursaries for university and Tvet students since the presidential declaration on the start of the new funding model on May 3, 2023. Education Cabinet Secretary Ezekiel Machogu emphasised that students who need financial aid must submit their applications properly through the Higher Education Financing Portal when releasing the placement results yesterday at the Kenya School of Government.
Also Read: How to Download University Admission Letters ( UoN)
Since acceptance letters must be sent by August 2, 2023, I have instructed vice chancellors and principals to make sure that they do so. Between August 3, 2023, and August 27, 2023, at midnight, students would be able to submit applications for loans and bursaries, he said.
The CS stated that the financial requirement of students will be assessed using a Means Testing Instrument (MTI), which he described as reliable and scientific.
The continuing students, on the other hand, would not be impacted by this funding structure and would instead receive their money in accordance with the current government plan, according to Mr. Machogu.
In order to receive full funding through government loans and bursaries, Mr Machogu claims that over 45,000 university students and 42,000 Tvet candidates among the 2022 Kenya Certificate of Secondary Education (KCSE) candidates who are eligible for placement fall into the vulnerable and extremely needy category.
A maximum grant of 82% of the programme cost and an 18% loan are given to needy students. A maximum grant of 70% of tuition fees and 30% in the form of a loan will be given to students with the highest need.
Students from low-income families will have an equal opportunity to pursue higher education and a military career thanks to full government funding. Mr. Machogu claims that as a result, the family won’t be required to pay anything towards the cost of the programme, and the student would also receive maintenance from the loan.
A maximum grant of 53% of the programme cost and a maximum loan of 40% would be given to students in the needy group. Additionally, the percentages will change according on how each participant’s MTI was evaluated.
Students at universities will experience financial shock
The amount of financial aid a student receives depends on the cost of the programme they are admitted into. Different courses at universities cost different amounts. The Kenya Universities and Colleges Central Placement Service (KUCCPS) obliged students to disclose the costs when they submitted placement applications. Additionally, universities had to offer a 15% discount on the total cost of all courses.
Financial shock for university students
For instance, a medical degree at Kenyatta University (KU), Kisii University, Moi University, and the University of Nairobi (UoN) will cost Sh612,000, Sh461,210, Sh612,000, and Sh539,750, respectively.
At KU, a pharmacy degree costs Sh428,000, whereas at Kisii University, it costs Sh418,710. The price is estimated by UoN to be Sh413,950. While UoN charges Sh521,050 for the course, Moi University charges Sh612,000.
The cheapest university degree is a bachelor’s in the arts. Annual tuition at KU is Sh153,000, Kisii University is Sh122,485, Moi is Sh153,000, and UoN is Sh160,653.
The Universities Fund, Helb, and KUCCPS all contributed to the creation of the placement and funding strategy. As opposed to the prior system, which was based on equality, the new model will encourage equity in higher education financing, according to Charles Ringera, CEO of Helb.
Prior to Helb, only students could apply for student loans, and the University Fund was responsible for managing universities. It utilised the differentiated unit cost, which is based on the cost of a programme, to distribute the capitation payment directly to the institutions.
When the results were made public, some students who had not been assigned to their preferred colleges or programmes reacted negatively.
Agnes Mercy Wahome, the chief executive of KUCCPS, claimed that the placement was solely determined by merit and choice.
“I’m confused and disappointed,” What options do we have, and what can we do? My youngster scored 84 points, or an A+. A father bemoaned the fact that the Technical University of Mombasa was chosen as his school for the Diploma in Medical Engineering.
Financial shock for university students
