Helb loan disbursement 2023 update.The Higher Education Loans Board (HELB) is getting ready to provide loans to first-year students under a New Funding Model. The Education Cabinet Secretary, Ezekiel Machogu, has announced this development.
He’s advised successful loan applicants to ensure their bank details are correct to make sure the funds are transferred smoothly. These loans are set to be sent to universities and student accounts on November 7, 2023.
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The New Funding Model, introduced by President William Ruto in May, categorizes students into four groups based on their financial needs. These categories determine the level of government scholarship and loans students will receive.
Categories Of Government Scholarship and Loan Awarded
1. Vulnerable Students: Those who are most in need will get a 100% scholarship from the government, with the remaining 18% covered by a loan.
Helb loan disbursement 2023 update
2. Extremely Needy Students: They will receive 70% of their tuition fees covered by government scholarships, while loans will make up the remaining 30%.
3. Needy and Less Needy Students: These students will get 93% of their tuition fees through government scholarships, with a 7% contribution from their households.
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Helb Criteria Ensures Fairness Among Students
This funding model aims to support students from different financial backgrounds, especially those who need it the most, making higher education more accessible.
In summary, the Higher Education Loans Board is about to disburse loans to first-year students under a new system that prioritizes financial assistance based on students’ needs.
Helb loan disbursement 2023 update.The government is taking steps to ensure that students have the necessary financial support to pursue their education, thus reducing the financial burden on those who need it the most.
This development is expected to help many students as they embark on their educational journeys.
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