HELB CEO Quotes Ksh210B As The Amount Required to Finance New Student-Centred Model
HELB CEO Quotes Ksh210B As The Amount Required to Finance New Student-Centred Model. In the new paradigm for students, university funding should be at least Ksh210 billion by 2028.
According to Higher Education Loan Institution (HELB) CEO Charles Ringera, the loan component will need at least Sh145 billion and the scholarship component will need at least Ksh75 billion.
According to our small simulation calculations, only Ksh145 billion will be needed to finance the university by 2028. We are talking about Ksh210 billion as the amount needed,” he said. “Scholarships will seek about Ksh75 billion, so we are talking about Ksh210 billion.”
“The sustainability of this new funding model depends on the existence of a large organization that can collect funds for the scheme from sources other than the Exchequer. I examine four prospective students, their transition to higher education, and the development of TVET in this simulation. The CEO said this number is important in helping national planners understand what the model will look like and how we can think about sustainability.
He said they are looking for cooperation money through the district among donors, foundations, individual entrepreneurs and other stakeholders to achieve sustainability.
He said the best balance for HELB was when people were paid back, as the council highlighted how its future expansion plan was to remove reliance on the Exchequer and raise more money to help higher education. loan
At least 800,000 students in TVET institutions and universities received Ksh 11 billion from HELB last year, Ksh 4.8 billion was allocated and totaled $14.9 billion.
Higher education institutions can receive 27.6 billion from HELB, 19.6 billion from the University Fund and 4.6 billion from TVET for this financial year.
The loan portion covers maintenance costs for the student’s tuition, books and stationery, accommodation and meals.
After COVID-19, a new problem has appeared: laptops. We’re talking to the World Bank about checking out the equipment loan program because most of the introductory letters you see say that students should bring a laptop. We discuss how to provide this when they go to university, as laptops are an essential component in most universities.
He said that where the Sh16,000 fee introduced by universities in 1989 came from, the old system of funding was abolished across the country.
Part of the Ksh16,000 is intended to contribute 20% of the Distinguished Unit Value (DUC) of the house or HELB, while the grant is intended to contribute 80%.
According to Ringera, the main goal of the old funding formula was equity, if everyone got something, and it did not consider the situation of students.
“The new funding mechanism aims to promote equity and fairness. This is claimed after the DUC and the average debt decreased, and rose to 48% last year as the number of students increased. If we continue in that direction, it will reach 35% this year,” he said.