Public University Students Will Be Granted Loans and Scholarships As Government Allocates Them Sh19.6bn
Public University Students Will Be Granted Loans and Scholarships As Government Allocates Them Sh19.6bn. The national government has released $19.6 billion for a new funding model for Universities and Technical and Vocational Education (TVETS) which will be implemented this September, when the 2022 Kenya Certificate of Education (KCSE) is introduced. candidate begins.
Geoffrey Monari, CEO of the University Foundation, said that the government has allocated $34.1 billion to continue student funding in all universities under the Differentiated Unit Cost (DUC) funding model for the 2023-2024 financial year.
As for the new financing model (NFM), Monari said 130,485 students studying in universities will also get scholarships and government loans based on the level of financial need, while 9,662 students studying in private universities will only have government loans.
Monari has assured that no student will be denied funding as there is enough supply for all, and has urged those who have received acceptance letters to register for funding before the August 27 deadline.
According to the CEO, students can now access the Higher Education Funding Portal at www.hef.co.ke or at any Huduma Center across the country. Applicants for funding must adhere to new guidelines set by the Ministry of Education.
At a press conference in Naivasha, Monari said the new funding regulation seeks to improve equity, fairness and transparency in the distribution of government scholarships and loans to university and TVET applicants.
The new model is designed to capture the heterogeneity and inequality seen in the differential unit cost (DUC) model for equal numbers of government-funded students from rich and poor students.
Monari said, universities and broadcasters will no longer receive capital block funds based on DUC, which is difficult to maintain due to the extensive management of funds by individual universities.
Instead, according to Monari, the government told universities that funds would be allocated to students based on their level of need, with disadvantaged students receiving 82% of scholarships and 18% of HELB loans.
The poorest students will receive 70% of scholarships and 30% of loans, while the poorest will receive 53% of scholarships, 40% of loans and 7% from their families. Students with low financial need will receive 38% scholarships, 55% loans and 7% from their families.
According to Kenya University and College Central Placement Services (KUCCPS) Chief Executive Dr Merki Wahome, the new funding formula aims to ensure equal opportunities for university education, technical and vocational education and training (TVET) for students from the bottom of the pyramid.
According to HELB manager Charles Ringera, funding in the new funding system will be allocated based on four criteria: Program selection, household income groups, positive performance and government priorities.
President William Ruto announced a new funding model earlier this year and assured students of significant support to cover the cost of their chosen programmes.
“No student will be left behind,” President Ruto promised after launching the new model.
The announcement paves the way for the admission process for KCSE 2022 candidates whose fate is unknown pending the release of the funding model.
This year, 92,350 students (29%) who will enroll in universities and TV institutions are identified as vulnerable and needy and will receive full government support in the form of grants, loans and bursaries.
Public University Students Will Be Granted Loans and Scholarships As Government Allocates Them Sh19.6bn