2023 University Funding Report: Key Updates and Insights
2023 University Funding Report: Key Updates and Insights. University Funding Report 2023: Update and Key Insights. In a significant change from the initial plan, students’ parents and students will now have to pay the fees. As a result, the government created a funding formula that was introduced a few months ago to ease the financial burden of parents who cannot afford higher education.
The original formula is based on four categories of students (weak, high needs, high needs and low needs). However, the government expanded it into five ‘groups’, resulting in students receiving between Sh40,000 and Sh60,000 depending on their family’s financial strength.
In the initial plan, “vulnerable and needy” students were exempted from housing costs, with the government covering all costs. In contrast, “disabled and needy” students must contribute seven percent to university education, including scholarships and loans.
However, the revised system means that new ‘band one’ (formerly ‘disadvantaged’) students will receive a 70 per cent stipend, while their parents contribute five per cent towards fees. Students in “group two” (formerly “high needs”) receive a 60 percent stipend, while their parents contribute 10 percent.
“Group Three” students (formerly “mattach”) receive a 50 percent stipend, and their parents pay 20 percent of the fees. On the other hand, the new “group of five” will receive a 30 percent stipend, while households will pay 40 percent.
This amendment is intended to address concerns about the durability of the original formula. As a result, experts find it too expensive in the long run. However, the delay in disbursement of funds to universities and colleges has caused financial difficulties for these institutions.
The government-funded changes affect several categories of students. Thus they raise questions about the long-term viability of the plan. In addition, public institutions of higher education continue to struggle with financial challenges due to funding delays. Thus it affects the work of the university administration.
2023 University Funding Report: Key Updates and Insights