The Higher Education Loans Board (HELB) received a warning stating that some students will be denied funding for the next two academic years.
According to HELB, the misleading post did not come from its official channels on social media.
According to the hoax social media post, financial aid for students in batches 4260 and 4389 wouldn’t begin until 2024.
It said the cancellation was due to a decision from the National Treasury not to transfer money to the HELB budget for the 2023–2024 fiscal year.
HELB stated that this was confirmation that the news was a fabrication.
Some applicants expressed frustration with the slowness of the funding process, and the resulting post began making the rounds. Most college and university students were displeased with the board because they were having trouble affording basic living expenses like tuition and food.
In response to questions, HELB said, “We are now working on the disbursements, and that shall be notified once the payment is done.”
HELB began accepting applications for the school year 2022-2023 in July this year. Students who had been selected for placement by the Kenya Universities and Colleges Central Placement Services were the target of this program.
Students who were planning to attend public universities that were recognized by the Commission for University Education (CUE) were also eligible for the funding.
With the extension until November 30, 2022, HELB will be able to accept additional students into the program.
Loan amounts for undergraduate students at universities might range anywhere from Ksh40,000 to Ksh60,000 per academic year. Soon after graduation, they must begin paying back the loan.
Some reforms in the HELB sector were vetoed by former President Uhuru Kenyatta, including ones that would have required loan recipients to begin making payments once they had found meaningful employment.