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No Money For you: University and College Students Receive a Major Blow from HELB Officials.

Photo courtesy of the STAR KENYA.

Cash crisis in the government and the "students bank" got dry, which has lead to a money emergency at the Higher Education Loans Board has hit hard on specialized understudies bringing about the students passing up advances intended to help their schooling.

The Star would now be able to uncover that all administration supported understudies in the universities won't get their advances—past due since March—regardless of a prior affirmation that they had been granted.

Helb CEO Charles Ringera on Wednesday said a Sh2.2 billion spending plan cut in March disabled its capacity to give the cash.

Ringera said that during the period, Helb had granted the advances to somewhere in the range of 65,000 understudies in specialized schools and was working with a financial plan of Sh2.6 billion.

This implies every understudy was set to get a normal of Sh40,000. Notwithstanding, upon the spending plan cut, Helb returned the distribution to the understudies to nil, placing in risk their capacity to clear expense unpaid debts.

A message shipped off one of the understudies in March and seen by the Star peruses: "You were granted a credit of Sh35,000, yet payment may not be done because of restricted spending plan. Guarantee you apply for 2021-22 resulting advance once resumed."

Ringera said before projections tried to grant up to 105,930 understudies with about Sh4 billion spending plan.

On whether the understudies would get the assets once the exchequer delivers the current year's financing, Ringera said, "No, 2020-21 is presently lost since we never got any cash from the Treasury. That is the reason we granted them zero so they apply this year as proceeding/ensuing [applicants]."

This implies the understudies should trust that the new application will accept their advance.

In 2019, the public authority moved to support students in specialized organizations and was to incompletely pay their expenses, and very much like their college partners, they would get to credits to cater for the leftover charges and upkeep.

Content created and supplied by: cctv_news (via Opera News )

Charles Ringera Helb Higher Education Loans Ringera STAR KENYA

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