The Government has released Ksh. 14.4 billion as the second tranche to cover scholarships and loans for Government-Sponsored first year students in Universities under the new Higher Educations Funding Model.
The loans will also cover the second semester for the year 2023/2024 Academic Year loans for continuing students.
In a statement by the Education Cabinet Secretary Ezekiel Machogu, of the total, Ksh. 10.39 billion will go towards loans under the Higher Education Loans Board HELB while Ksh. 3.98 will be disbursed for scholarships through the University fund UF.
The statement further said, Universities will receive the scholarship portions for their respective students by Friday 19th 2024.
Further, candidates who sat for the Kenya Certificate for Secondary Education KSCE Examinations in 2023 will form the second cohort of students to be subjected to the new funding model the statement added.
Consequently, the government Wednesday released Ksh.1.192 billion to Technical and Vocational Education and Training (TVET) institutions nationwide.
The funds will be channeled into various initiatives. These include providing financial assistance to individual trainees, a move designed to empower aspiring professionals in various fields.
According to Principal Secretary Ministry of Education Dr. Esther Thaara, the move signifies a major boost for TVET institutions, providing crucial activities.
“This injection of resources aims to foster an environment conducive to effective learning and skill acquisition.” Said Dr. Thaara.
Adding that: “The government’s unwavering commitment to delivering employable skills through TVET underscores its dedication to supporting key economic sectors. This strategic investment aligns with broader goals such as reducing youth unemployment and driving sustainable economic growth.”
Meanwhile, CS Machogu is set to preside over the launch of the 2024 Elimu Scholarship programme at Bomas of Kenya Friday.
The scholarships provide a lifeline to needy children to undertake secondary education without let or hindrance.