University Fund CEO:Over 65,000 students applied for scholarships & loans
Out of the 140,107 students who were admitted to universities this year, about 65,000 have applied for loans and scholarships under the new funding model.
Geoffrey Monari, the CEO of University Funding, reported that they had been receiving 8,000 applications daily. The application deadline is September 7.
“We want Kenyans to learn to respect deadlines, and with 16 days remaining we are confident we will capture all those who need financial support,” he told the media.
The Higher Education Loans Board will determine how much money will be given to students under the new funding model, which was unveiled by President William Ruto in May.
The new funding model replaces the outdated one that has been in use for 33 years and goes into effect this September when the KCSE class of 2022 enrolls in institutions for the first time.
In contrast to the old model, students enrolling in public universities will not automatically get government money under the new one.
In order to pay for their tuition, students will have to apply for a government loan, a scholarship, or both.
However, this will be on a voluntary basis. A student who does not apply for either or both of the government funding will be considered a private sponsored student and universities will expect them to pay the full fees amount.
We cannot assume that all students need government financial support to cover tuition fees, we will make sure we have captured all students before closing the application window but we cannot force all students to take financial support extended,” Monari said.
However, for those proceeding to private universities, they will only be eligible to apply for loans.
“After the deadline lapses, we will know the breakdown of those who applied for scholarships, loans or those who applied for both,” Monari said.