The Higher Education Loans Board (HELB) has announced that financial support for Kenya Medical Training (KMTC) students will increase after beneficiaries have established a good payment record.
Speaking in Nairobi at the launch of the Education Funding Scheme for KMTC students, HELB Chief Executive Charles Ringera said Sh2.9 billion in loans were disbursed to medical students for the 2021/2022 academic year, benefiting a total of 49,166 students.
“A total of shs. 3.5 billion was awarded to students during the academic year, a portion of which was awarded to KMTC students,” said Ringera.
Ringera urged those benefiting from the Helb fund to repay their loans to help the council support more students. He said the organization has so far collected Sh205 million from KMTC students.
More than 2,500 KMTC students have cleared their debts and another 7,000 students have started repayment,” he said.
Ringera called on KMTC leaders to be proactive in mobilizing funds, leveraging their relationship with local government leaders and other partners to seek financial support.
The CEO said that in the new partnership, KMTC and Helb will be involved in joint fund mobilization, while credit institutions will receive and disburse funds on behalf of the college.
The two organizations will work together in developing criteria, terms and conditions that will govern the allocation and distribution of funds.
At the event, KMTC received Sh680 million from the National Treasury to increase support for students this academic year.