Higher Educations Loans Board (HELB) Chief Executive Officer Charles Ringera has expressed his worries that the fund would be converted to a grant in 2022.
He stated that the move will kill the fund's mission and further push millions of students to miss out of their education, since there is an already running grant amounting to Sh 43 billion under the Universities Fund (UF) which the university students do not pay back.
Ringera also added that the board further runs a bursary allocations that amount to Sh237 million to cater for desperate cases, arguing that the loan component should not be dissolved as it helps to finance more students
In his argument, Ringera said that the move will be unfair to millions of beneficiaries who have so far paid their loans, also questioning whether the revolving funds from counties and constituencies will be converted to grants.
"There is need to consolidate these funding from various organs and funnel them into one centralized funding for fair distribution, "said Ringera.
He added that 30 per cent of the money got after loan recovery supports the higher education.
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