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Helb begins disbursing Sh10.5 billion in student loans.

Helb begins disbursing Sh10.5 billion in student loans.

After months of hardship, the Higher Education Loans Board (Helb) has begun disbursing Sh10.5 billion to students in universities and technical vocational training colleges (Tvets). According to the previous higher education funding model, 175,000 first-year students and 70,000 continuing students will benefit from this funding.

The loans are being disbursed in accordance with the students’ preferred payment options, which include bank accounts or Mpesa wallets, said Helb Chief Executive Charles Ringera. For many students, especially those from economically poor homes, this assistance is very substantial.

Ringera further noted that, as instructed by Education Cabinet Secretary Ezekiel Machogu, the deadline for first-time applicants to the new higher education finance model for loans and scholarships has been extended to October 7, 2023.

Additionally Read: University Students Protest HELB Delay

Due to financial difficulties at Helb, a large number of university freshmen and Tvet students were still awaiting State money to cover their tuition and living expenses as of early September. To process loan requests for college and university students, the organization has asked the Treasury for Sh10 billion.

The financial problems at Helb had been exacerbated by a rise in student loan defaults as well as delays in the allocation and release of monies from the Treasury. First-year students were compelled to look for alternative ways to pay for their education because of this delay.

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