HELB Clarifies First Year Funding Delay, Provides Solutions
A change in the application status of a subset of college students awaiting High Education Loans Board (HELB) disbursements occurred on Thursday, July 6.
The affected students, the majority of whom were first-years, expressed displeasure after their application status was abruptly changed from verification to allocation.
HELB stated in a statement that due to the institution’s financial difficulties, they were unable to disburse funds to all students for the 2022/2023 fiscal year.
“Due to budgetary constraints, we are unable to fund your request for the Fiscal Year 2022/23. Apply for the 2023/24 subsequent application when it becomes available,” the statement reads in part.
Under the condition of anonymity, a HELB representative assured GossipA2Z that first-year students who missed the initial application deadline will have the opportunity to apply for funding during the 2023/2024 Financial Year.
“We received applications from unsuccessful applicants. Unfortunately, due to financial limitations, we were unable to assist them despite having verified everything.
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“Once we open the application, they are not required to reapply. They will apply as subsequent applicants,” he explained, adding that the board will provide a USSD code to facilitate the applicants’ mobile applications.
The HELB representative explained that continuing students have nothing to worry about because they will receive their disbursements on schedule.
We financed nearly 100 percent of continuing students because we had to prioritize the entire group. “We reasoned that since the students were already enrolled, they relied heavily on the loan,” he explained.
The disruption occurred two months before universities adopting a new funding model proposed by the government of President William Ruto.
According to the Ministry of Education, students entering university for the first time in September 2023 will receive grants and loans.
Students receiving government aid will be classified as vulnerable, less vulnerable, or capable.
Vulnerable students will receive full funding in the form of scholarships, while less vulnerable students will receive 53% funding in the form of scholarships and 30% funding in the form of loans.
HELB Clarifies First Year Funding Delay, Provides Solutions
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