The Higher Education Loans Board (HELB) has completed the processing of loans for First Year students in universities and TVETs under the New Higher Education Funding Model.
A press statement issued by Education Cabinet Secretary Ezekiel Machogu said that students will begin receiving the funds on Tuesday of next week.
“The Ministry wishes to inform successful applicants that the funds will be disbursed to their respective universities and student accounts starting Tuesday 7th November, 2023,” the statement read in part.
“Students are advised to ensure that their bank details, as provided in the application for the loans, are correct and up to date,” it added.
Under the new funding model which was unveiled in May by President William Ruto, learners are grouped into four categories; vulnerable, extremely needy, needy or less needy.
The vulnerable varsity students are set to receive 100 percent scholarships with the government scholarship standing at 82 percent while the loan takes 18 percent.
The extremely needy students will receive 70 percent of government scholarships while the loans will contribute to 30 percent of the tuition fee.
The needy and less needy will receive 93 percent of government scholarships with 7 percent being household contributions in meeting the fees requirement.