Government To Double HELB Funds. The Higher Education Loans Board (HELB) has received an additional sh.15 billion shillings for it’s services for the fiscal year 2023-2024. This information was confirmed by Kiharu member of parliament Ndidi Nyoro. The lawmaker also happens to be the head of the parliamentary budget committee. This will boost HELB body a great deal in it’s operations for the coming financial year.
The lawmaker made sentiments regarding the increase in funding to HELB. He maintained that the government was committed in ensuring higher education is running smoothly. He said the government has the university student’s heart at hands and stressed on the need to have the students studying smoothly without interruptions. He said this while issuing bursaries to needy students in his constituency.
Government To Double HELB Funds
Additionally, as the treasury cabinet secretary Njuguna Ndung’u will be reading the budget on June 15, he said that the HELB budget will now increase from 15 billion shillings to 30 billion shillings, an increase of 100 percent in funding.
In addition to that, Education ministry led by Cs Ezekiel Machogu will receive the lion’s share of the budget. The ministry will be awarded a whooping 630 billion shillings to run it’s operations for the 2023- 2024 fiscal year.
20,000 teachers to be hired
An additional 20,000 teachers are set to be hired. Funds for hiring of the said teachers will be drawn from the education ministry’s budget. The teachers will be sent to schools, mostly junior secondary school where there is a deficit.
The kiharu lawmaker stated that this current administration is emphasizing on the need for provision of quality education to the children and youth in this country. This is because the young people currently in schools will be determinants of the nation’s destiny.
President William Ruto’s budget is expected to stand at a whooping ksh. 3.6 trillion shillings. This will be ksh. 215.03 billion higher as compared to the last budget of the former president Uhuru Kenyatta.
Previously, in March 2023, HELB CEO Charles Ringera has stated that HELB was in a financial crisis. He indicated that only 140,000 university students would receive HELB funds and the rest locked out. He indicated that they were unable to fund students in time as they needed more than 5.7 billion shillings that they never had.
The CEO indicated that due to huge unemployment problems in the country, several youths have ended up being defaulters. Graduates with HELB debts are always expected to start repaying one year after graduation.
He however denied accusations insinuating that defaulters had been reported to CRB. He clarified that reporting begins 6 years after one graduates.