HELB, the Board of Higher Education Loans, expressed concern over the high demand for student loans, while those benefiting from billions of money.
As a result of the above situation the state has given such loans to this board which are insufficient to support the students in universities and secondary training institutes across the country.
In this fiscal year ending June, the Board of Higher Education Loans had estimated that 236,555 university students would apply for loans under an estimated consumption of Ksh 10.2 billion.
They ended up with 269,000 applicants. Helb estimated that approximately 162,147 continuing students would apply for education loans worth $7 billion, but the number exceeded 14,853, while the number of new applicants was 92,000, up from an estimated 74,408, giving the board the amount allocated to students. was forced to reduce.
Helb, through its chief executive officer Charles Ringera, attributed the increase in applications to the pandemic’s negative effects on the economy, saying some students had taken longer to study.
According to Ringera, the board tinkered with the amount given to students (which reduced from ksh 42,000 to Ksh 40,000) but was still unable to fund 75,000 applicants due to a budget deficit of 3.2 billion.
Also non-funded students have not been considered in the supplementary budget.
With students in technical and vocational education and training institutes, the number of applicants increased from the estimated number to 37,110, from the original 80,273.