The Principal Secretary for University Education and Research Mr Simon Nabukwesi has come to the aid of university students telling the National Assembly to consider revising the loan disbursement policy from Ksh. 37,000 annually to Ksh. 200,000.
Mr Nabukwesi together with the Chief Executive Officer of HELB Charles Ringers has argued that the current amount of money being given to students is too little for them to pay school fees and cater for their upkeep.
The Ministry of Education also told the house that it intends to have students purchase laptops with the additional funds. Mr Nabukwesi added that with the hiking prices of commodities and the general upward trend of the economy, it is unreasonable to continue using the same criteria for awarding loans that was used 3 decades ago.
"Due to low funding, many students missed this year’s loans. HELB is currently giving the students an average rate of Sh37,000, which is not enough. We need more funding to enable HELB to raise the loan allocation to Sh200,000 per student annually," Mr Nabukwesi commented in a report seen by Nation.
The Higher Education Loans Board is therefore seeking an additional 4.9 billion in funding from the treasury to implement the new policies soonest next academic year.
"HELB understands the need to give funds to all the students who applied for the loans and has requested for an additional Sh4.9 billion to cover the deficit," noted the CEO.
Should the Members of Parliament approve the proposal, students in higher education institutions will get up to five times the amount they are currently getting as loans from HELB.
Content created and supplied by: NewsArena (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More