The government has allocated KES 14.4 billion as the second installment to facilitate scholarships and loans for first-year students in government-sponsored universities in adherence to the new Higher Education Funding Model.
Of this amount, KES 10.39 billion is earmarked for loans through the Higher Education Loans Board (HELB), while KES 3.98 billion will be disbursed for scholarships via the University Fund (UF).
Education Cabinet Secretary Ezekiel Machogu has confirmed that these loans will cover the second semester of the 2023/2024 Academic Year for continuing students. Universities are expected to receive the scholarship portions for their respective students by Friday, 19th, 2024.
The second cohort of students subjected to the new funding model consists of candidates who took the Kenya Certificate for Secondary Education (KSCE) Examinations in 2023. In alignment with this, the government has released KES 1.192 billion to Technical and Vocational Education and Training (TVET) institutions nationwide.
These funds will be allocated to various initiatives, including providing financial support to individual trainees. This strategic allocation aims to empower individuals pursuing careers in diverse fields.
Dr. Esther Thaara, the Principal Secretary of the Ministry of Education, emphasized that this move represents a significant boost for TVET institutions, enabling crucial activities.
“The government’s steadfast 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 promoting sustainable economic growth,”she stated
Meanwhile, CS Machogu is scheduled to preside over the launch of the 2024 Elimu Scholarship program at Bomas of Kenya on Friday. These scholarships serve as a vital support system for underprivileged children, allowing them to pursue secondary education without impediments.
