University Funding Crisis 2023
University Funding Crisis 2023. Recently there has been an outcry from Public and Private University on the funded allocated to it by the Government. Citing that the funds are minimal comparing with education cost meant to be catered for.
Since 1989 the government funding for every student in the university has been 16,000 as stated by University Funding CEO Geoffrey Monari. The 16,000 is termed to be so minimal going by the current economy.
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Currently the universities are burdened with a debt of 60.1B which is among the salary payment to Lecturers, pensions and other expenses related to universities and students welfare and education.
Yesterday, Cabinet Secretary for Education Ezekiel Machogu while addressing journalists at the first Biennial Kenya Universities Funding conference at Mombasa. Stated that universities should be innovative and commercialize their projects so that they can be source of income.
This comes after the outcry to the government for funding has not be responded to and the universities are of the plan of increasing the fees from Shs. 16,000 to Shs. 52,000. The call for increase in university fees is directed to improve situation in providing required services as well as quality education to students. Previously it is noted that the number of students enrolling to the university are significantly increasing.
On paper, the government is required to finance the student’s University fees at 80% but currently they are financing 48% which is little as declared by Higher Education Loans Board (CEO) Dr. Ringera and University Funds CEO Geoffrey Monari.
“What magic could the universities do to produce a fully baked graduate? When you finance them (50%), they will produce half baked graduates, he said.
Among the proposals from the government, the universities are asked to be innovative to tap in money from resources mobilisation.Other proposals that will initiate funding include;
- Four year graduation rate
- Graduate’s is employability rate
- Research output from individual universities