HELB Introduces New Loan Allocation Method Based on Student Need
- The Higher Education Loans Board (HELB) made changes in the criteria which they use to allocate funds to students
- They stated that they no longer use the method of issuing funds to tertiary institutions students according to the bands they are categorised into
- The loans board also addressed concerns about the reduction in the amount of funds issued to students
Faith Chandianya, a journalist at TUKO.co.ke, brings over three years of experience covering politics and Current Affairs in Kenya
The Higher Education Loans Board (HELB) has issued a notification on the changes in how funds are allocated to students pursuing tertiary education.
Source: UGC
In a statement issued on its social media platforms on Friday, August 22, it announced that a new funding model has been introduced following the government's decision to scrap the previous one.
HELB stated that the allocation of funds would now be issued according to the students' financial need and the cost of the programme they are in.
They further stated that they no longer categorise students' funding allocation into bands like they did previously.
"Each student's allocation is based on their assessed level of financial need and the cost of the programme," the HELB statement read in part.
The loans board also took the opportunity to state the amount of fees that students are supposed to pay once they receive the loan.
"The amounts of fees to be paid shall be provided by the institution you are admitted to. Please log in to the website of the institution and get more information. Each student will have an amount unique to their financial need assessment outcome," they added.
HELB also clarified the reasons behind the recent reduction in student loan allocation.
"The government reduced the university programme cost, and you will now pay lower fees. The allocations take into consideration the reduced cost of the programme."
Source: TUKO.co.ke
