Latest HELB Updates Indicates that 100,000 Students will Miss Out in Funding
Latest HELB Updates Indicates that 100,000 Students will Miss Out in Funding. Students from Kenya who want to pursue higher education can get financial aid through the Higher Education Loans Board (HELB). Many pupils were accepted into many universities this year.
The HELB’s capacity to accept all students has been hampered by the enormous number of applicants. This occurs in the midst of unrest in a nation experiencing a serious financial crisis.
Approximately 148000 college students will not be approved for HELB loans this year.The National Treasury slashed funding for the Higher Education Loans Board (HELB) in response to the escalating financial crisis.
As a result, HELB will not be able to provide 100,000 college students with the entire amount of help this year.
Of the Ksh 20.5 billion that was anticipated to be given to HELB, the National Treasury has already distributed Ksh 14.8 billion.
The HELB board expressed worry over how this distribution would impact the rise in the number of kids who are likely to drop out of school, which has harmed other kids.
Nearly 500,000 applicants, according to Ringera, showed up, breaking the previous record for the most applicants ever.
Ringera asserted that the Ksh 14.8 billion it received for its budget, which is Ksh 5.7 billion less than what it wanted, will result in fewer children receiving benefits from the board.
Ringera estimates that this year’s funding will help about 341,000 students and cost Ksh 14.8 billion in total. Due to the fact that we received enquiries from over 500,000 kids, we are unable to help everyone.
He continued, “We hope that next year will be better because we don’t have enough money this year to cover about 140,000 students.” It will cost about Ksh 5.7 billion to do this.
The number increases every July because a total of 107,000 graduates have defaulted on their loan payments.