How Family Tax and NHIF Records Will Define HELB Loan
The government would use data from other State entities to decide whether students are qualified for scholarships and loans, according to Universities Fund Chief Executive Geoffrey Monari.
When determining how much money would be paid to each student and how they will be classified, Monari has emphasized that key factors including tax information, health insurance coverage, and retirement payments will be taken into account.
He emphasized that the decision-making process will primarily rely on data from the National Health Insurance Fund (NHIF) and the Kenya Revenue Authority (KRA) in order to accurately calculate household incomes.
“For instance, paying Ksh1,700 for NHIF indicates that you are in a particular income bracket, or if we go to KRA and look at your returns, it indicates that you are in a particular income bracket,” explained Monari.
According to Monari, detailed study of the data provided in applications will be required to make a more informed decision, even though data will be crucial in determining households’ income groups.
The applications will contain details about the applicants’ financial situation as well as their educational background.
Read this article as well: Helb Applicants to Take Exams Before Submitting Applications
Some academics have expressed concerns about the new funding strategy’s possible impacts. They contend that given the state of the economy, education may become too expensive and out of reach for many families.
Concerns have also been raised about how the government will determine how vulnerable applicants are, especially in light of the fact that a substantial majority of Kenyans with jobs labor in the unofficial sector.
Ephraim Njenga claimed, “Exactly as I had anticipated, the new paradigm of paying for higher education is a backdoor way to eliminate educational subsidies.
They must pay the whole Ksh250,000 ($7,500) annual cost of their university tuition now that they will be deemed capable. If you have two college students, you will struggle even with a good pay. Only the very wealthy would be able to avoid the pinch.
Opponents of the new system have criticized the administration for implementing the changes quickly without getting enough public consultation and for experimenting without considering the ramifications.
“Every Kenyan who is thinking should oppose the experiments being carried out in the area of education. It doesn’t matter if you can afford the practical jokes or not, Njenga said.
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