Helb starts disbursing Sh10.5bn student loans after months of wait
The Higher Education Loans Board (Helb) has commenced the disbursement of Sh10.5 billion to students in Universities and Technical Vocational Training Colleges (Tvets), bringing an end to months of hardship for learners. This funding will benefit 175,000 undergraduates and 70,000 continuing students under the old higher education funding model.
According to Helb Chief Executive Charles Ringera, the loans are being disbursed based on students’ preferred payment methods, which include bank accounts or Mpesa wallets. This relief is particularly significant for many students, especially those from economically disadvantaged backgrounds.
Ringera also mentioned that the deadline for first-time learners applying for funding under the new higher education funding model for both loans and scholarships has been extended to October 7, 2023, as directed by Education Cabinet Secretary Ezekiel Machogu.
Also Read: University Students Stage Protests Over HELB Delay
In early September, numerous university freshmen and Tvet students were still awaiting State funding to cover their tuition and living expenses due to financial challenges at Helb. The agency had requested Sh10 billion from the Treasury to process loan applications for university and college students.
Delays in cash allocation and release from the Treasury had contributed to the financial difficulties at Helb, along with an increase in loan defaults from former university students. This delay forced first-year students to seek alternative means to finance their education costs.
Helb starts disbursing Sh10.5bn student loans after months of wait
