The Higher Education Loans Board (HELB) has finalised the processing of loans for First Year students in universities and TVETs under the New Higher Education Funding Model.
In a statement to newsrooms on Friday, Education Cabinet Secretary Ezekiel Machogu said students will start receiving the funds from Tuesday, next week.
“The Ministry wishes to inform successful applicants that the funds will be disbursed to their respective universities and student accounts starting Tuesday 7% November, 2023,” said Machogu.
“Students are advised to ensure that their bank details, as provided in the application for the loans, are correct and up to date,” he added.
In the new funding model, the government plans to channel higher education assistance directly to individual students based on carefully curated criteria.
The level of funding for each student will depend on the monthly household income and each student will individually apply for the scholarship and loans, soon after receiving admission letters.
Those seeking financial aid from the government have been classified into four categories, the vulnerable, extremely needy, needy and less needy.
Under the model, those students falling under the vulnerable and extremely needy band will qualify for 100% government funding for their studies with the money coming as scholarships and loans.
Students categorized as less needy will get 93% government funding, with the students bearing 7% of the tuition costs.