The Higher Education Loans Board (HELB) on Wednesday commenced the disbursement of tuition loans to more than 175,000 undergraduate students and over 700,000 continuing TVET students under the Old Higher Education Funding Model (OFM).
While making the announcement, via a statement to newsrooms, HELB CEO Charles Ringera noted that the loans are being distributed in accordance with the students’ chosen payment methods, which include either a bank account or the HELB Mobile Wallet.
“Higher Learning Institutions (HLIs) – Universities and Colleges are advised to allow students to register as tuition fees to various institutions have also been released and should reflect in their respective bank accounts of the HLIs by October 5, 2023,” said Ringera .
“For first-time students applying for funding under the New Higher Education Funding Model (NFM), for both loans and scholarships, the deadline for application is October 7 2023 as per the extension granted by Education Cabinet Secretary Ezekiel Machogu on September 5, 2023.”
Ringera added that the processing and disbursement of loans and scholarships for students under the new funding model will commence after the October 7 deadline.