Good News to University Students As Universities receive Warning
On the 11th of August 2023, Geoffrey Monari, the Chief Executive Officer of colleges Fund, issued a harsh warning to colleges that are considering hiking tuition for students who are funded by the government.
He emphasised how important it is for educational institutions to uphold the commitments that are specified in the Memorandum of Understanding (MOU) that they have signed with the fund.
Monari emphasised that any institution that is discovered to have increased fees in contravention of the terms that were agreed upon will not only be subject to penalties, but they also run the possibility of having their MOUs cancelled. This announcement comes at a time when candidates for the KCSE in 2022 are getting ready to begin their travels through higher education.
“On the basis of their tuition and price arrangements, universities have agreed to enter into these MOUs with us. According to Monari’s explanation, the MOU will be revoked and further fees will be assessed in the event that they choose to increase the fees.
It has been determined by the government that a sizeable number of students would receive financial assistance in the form of scholarships and loans so that they can pursue higher education. Scholarships and low-interest loans will be made available to approximately 130,485 students who are enrolled in public universities. In the meanwhile, loans will be available to the 9,662 students who are currently enrolled in private universities.
Also Read: Parents to Pay Reduced Fees In New Funding Model – University Vice-Chancellors .
Monari gave the students his word that the recently implemented Funding Model would make certain that no student who was qualified for financial assistance would be denied it. He emphasised that an accurate count of the number of students who required assistance had been taken into account.
He further emphasised that even if a student decides to alter programmes or transfer to a different university, the financing will not be affected and will continue to be provided.
Monari disclosed that scholarships will be made available to all students who are under the age of 18, however students who are enrolled in private universities will only have access to loans until they reach the age of 18.
The Universities Fund has a number of important goals, one of the most important of which is to increase the percentage of students who are enrolled in higher education from 19 percent to 30 percent. Monari explained that the purpose of this initiative is to generate graduates who are capable of making a meaningful contribution in the global employment market.
In the beginning of this year, President William Ruto presented the New Funding Model, which centred on the idea of offering major advantages to students who came from economically challenged homes.
Good News to University Students As Universities receive Warning
