The chief executive officer(CEO) of HELB claims it is impossible for the higher education loans board(HELB) to convert loans into grants.
According to a report by The Standard, Charles Ringera explained that such a move would kill the fund's mission and force hundreds of students if not millions out of universities.
Charles revealed that some students are already enjoying grants from a 43 billion grant through the University Fund(UF).
Charles Ringera has opposed Raila Odinga's proposal to convert loans into grants." height="473" width="900"/>
Photo: Charles Ringera
"This grant in form of money is paid to students in the universities through the Differentiated Unit Cost (DUC) and they absolutely do not have to pay it back". Charles said.
He further added that the board offers Ksh 237 million bursaries to those in need every year.
"We allocate KSh 8,000 per student as bursaries and this translates to some KSh137 million for students in the university and KSh100 million for those in TVET institutions every year," Ringera claimed.
On October 19, Raila stressed the importance of having quality education among every child in the Republic of Kenya.
While criticizing Raila's proposal, Ringera noted that the move would not only dismantle the fund's revolving strategy but also raise questions of equity as those that have paid would be disenfranchised.
Currently, government-sponsored student parents pay only Ksh 16000, and students are to receive a minimum of Ksh 120,000 per year from the board.
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