University financing crisis as student loans shrink

3 month payday loans, car loan emi calculator, discover student loan, loan calc, loan calculator, loan interest calculator, loan payment calculator, savings and loans, simple loan calculator, student loans gov
University financing crisis as student loans shrink

shrinking financial allocations from the government for universities of kenya. - Gilbert Nganga


All reader responses posted on this site are those of the reader ONLY and NOT those of University World News or Higher Education Web Publishing, their associated trademarks, websites and services. University World News or Higher Education Web Publishing does not necessarily endorse, support, sanction, encourage, verify or agree with any comments, opinions or statements or other content provided by readers.
   
For Dennis Mwangi, the excitement of being a freshman quickly dissipated after he arrived at the University of Nairobi last month. The orphaned top performer from a sleepy village in central Kenya had to go without money due to delays in the disbursement of student loans – and when the money finally hit his account, it was much lower than applied for or expected.

Mwangi is among thousands of university freshmen who have been suffering as Kenya sank into a crisis occasioned by a biting shortage of government-supported student loans and spiralling loan repayment defaulting by former students.

The state of affairs last week prompted the Higher Education Loans Board, or HELB, to cut the maximum loan allocation to freshmen by at least US$115, citing a financial crunch and increased number of applicants.

Freshmen who joined universities from late last year had to suffer without funds for more than three months.

The numbers

HELB said in a statement last Tuesday that the near doubling of new students had left the agency with no option other than to cut the maximum annual allocation per student to US$555 from the current US$666. This is a big knock to thousands of first-year students. However, the minimum allocation remained unchanged at US$380.

More than 110,000 students applied for the loans at the end of last year, up from the 2013 figure of 65,000, while government capitation has been rising relatively slowly.

Out of the 110,000 first-time applicants, only around half – 65,000 – qualified for loans. But not all will get the loans, said Charles Ringera, chief executive at HELB. This means they will have to do with a life of financial difficulties on campus.

“It has been a trying three weeks. I have to adapt to a new environment, getting accommodation is a big hassle and the delay in disbursements has meant I can’t afford anything to start my new campus life,” said Mwangi who received US$555 as a loan.

Educationists have said that the amount allocated per student is too low – an average of US$411 – compared to the high fees charged by universities per semester, estimated at US$700. Inflation over the past year averaged 5%.

This has meant families having to give priority to basic needs, both pushing up demand for student loans and leading to low repayment of previous HELB loans.

In the current fiscal year, which ends in July, HELB had sought US$170 million from the government as capitation but received only US$28.3 million, a meagre 15% of the request.

“The board is unable to service the high number of applications from new students due to the debts. The number is far beyond our capacity,” said Ringera, adding that previous beneficiaries owed the agency over US$88 million. This amount is over seven times the annual allocation HELB gets from the government annually.

Youth unemployment has remained a big headache for the Kenyan government with over 60% of youths said to be out of work.

Delays in disbursement of the loans last week angered university students across the East African country. They had on Monday planned to stage a boycott countrywide to protest against the delay, forcing HELB to release the loans to their accounts.

“We are still pushing for HELB to be transformed into a financial institution so that it can offer better and timely services,” said Education Secretary Professor Jacob Kaimenyi.

In the current fiscal year 2014-15, HELB intends to fund 215,739 students at a total budget of US$95.5 million. This is expected to rise to 307,984 students at a total budget of US$141.3 million in the 2015-16 financial year.

The loans agency has targeted raising the student financing budget four-fold from the current US$63.5 million to US$224.7 million in 2018.

Under-funding

The crisis has exposed the soft under-belly of Kenya’s higher education system, which continues to grapple with concerns of underfunding and poor quality.

Now thousands of needy students will be missing out on opportunities for loans in a country where higher education is increasingly becoming difficult for households to afford.

University education in Kenya, a 2009 World Bank report showed, is among the most expensive in the region. With over 50% of Kenyan households considered poor, most parents and guardians require supplementary funding to keep their children in class.

It is estimated that 60% of a household’s budget in Kenya goes into spending on education, with university studies taking the biggest chunk of this since primary education is free for all and secondary education is partly subsidised.

HELB has been mulling over a range of fundraising options to allow it to keep up with growing demand and stave off over-reliance on faltering state funding.

Government statistics show that the total amount disbursed for undergraduate loans increased from US$49.7 million in 2012 to US$68.5 million in the current fiscal year. During the same period, postgraduate loans also increased from US$2.6 million to US$4.5 million.

“The target was to ensure 30% coverage of students at the university level and that they are financed adequately to cover at least 50% of the annual fees cost. However, this is not feasible given the scarcity of resources,” said the National Treasury in a paper detailing the spending plan for Kenya’s education sector for 2015-16.

“This will require mobilisation of alternative resources to cover the gap.”

The current crisis is putting to the test HELB’s strategic plan for the next five years, which had been billed by educationists as transformative and bold.

The agency said it hoped both to raise the proportion of students funded to 36% by 2018 and to raise the average amount per student from the current US$435.3 to US$588 per year. Currently, the board supports only 18% of all students enrolled in universities.

With the information we provide about   shrinking financial allocations from the government for universities of kenya.

, We hope you can be helped and hopefully set a precedent with you . Or also you can
see our other references are also others which are not less good about  HELB REPAYMENT- ADVICE!


, So and we thank you for visiting.


open student loan : http://www.universityworldnews.com/article.php?story=20150129131701970

 HELB REPAYMENT- ADVICE!

3 month payday loans, car loan emi calculator, discover student loan, loan calc, loan calculator, loan interest calculator, loan payment calculator, savings and loans, simple loan calculator, student loans gov
 HELB REPAYMENT- ADVICE!

what is the least contribution you can pay towards helb loan to avoid penalty - I have been repaying my HELB loan regularly until i had some cash flow problems. I stopped for about six months and HELB has twanga'd me some serious penalties. I would like to resume payment ASAP. My question is: If i repay all the six months as a lump sum payment will i get the penalties waived? Or should i just wait and accumulate the FULL outstanding amount + interest (Next year) and repay as a lumpsum to avoid penalties?

Advice from wazuans please. I want to get back into HELB's good books!

** I have gone through the previous HELB thread but it does not answer this questions in detail

....have you raised a similar querry with HELB?

Please go and talk to HELB. They tend to listen if you have a story that stacks up. In future be sure to inform them when you are out of work Etc


If you repay the whole principal+interest amount as a lumpsum the whole penalties will be waived . I took myself there couple of days ago, and you just give them your story and a balance as at that day is generated and if u clear it there you get your cert instantly,....


@ Layman...i did. There reply was that penalties will NOT be waived.

@ Robinhood, i informed my accounts supervisor by email a few day after expiry of my contract . They said penalties will continue to be charged since i had already started payment. Infact here is the reply:
________________________________________________________________
Dear sir/Madam

Your query has been received with appreciation.

We wish to inform you that as per HELB Act, 1995, once you stop/not servicing the loan, we automatically start levying penalty as explained in the attached PENALTY NOTICE. All other charges remain as per the loan agreement you signed on top of the annual ledger fee of Kshs 1000 that was legislated in 2004.

Further note that loan repayment/penalties, ledger fee cannot be postponed, suspended and or halted on condition of further studies, unemployment, ignorance about repayment among other reasons.

To avoid all these urgently start servicing the loan through any of the attached modes/options of repayment.

Attached find your loan statement as requested.

Thank you



If you repay the whole principal+interest amount as a lumpsum the whole penalties will be waived . I took myself there couple of days ago, and you just give them your story and a balance as at that day is generated and if u clear it there you get your cert instantly,....


@Kibish what if i pay for the six months i defaulted as a lumpsum payment and continue paying the rest in installments will they waive the penalties?

Must i pay the whole principal amount (over 200K) as a lumpsum for all the penalties to be waived?


If you repay the whole principal+interest amount as a lumpsum the whole penalties will be waived . I took myself there couple of days ago, and you just give them your story and a balance as at that day is generated and if u clear it there you get your cert instantly,....


@Kibish what if i pay for the six months i defaulted as a lumpsum payment and continue paying the rest in installments will they waive the penalties?

Must i pay the whole principal amount (over 200K) as a lumpsum for all the penalties to be waived?


The ONLY way not to pay the penalties is to pay the whole principal amount + interests, in one lumpsum payment. PERIOD. Yes, you have to pay the over 200k at once.

Boss, 200k loan?! Kwani you used to get maximum 42k loan + 8k bursary for 5 years? smile
Set out to correct the world's wrongs and you will most certainly wind up adding to them.


If you repay the whole principal+interest amount as a lumpsum the whole penalties will be waived . I took myself there couple of days ago, and you just give them your story and a balance as at that day is generated and if u clear it there you get your cert instantly,....


@Kibish what if i pay for the six months i defaulted as a lumpsum payment and continue paying the rest in installments will they waive the penalties?

Must i pay the whole principal amount (over 200K) as a lumpsum for all the penalties to be waived?


The ONLY way not to pay the penalties is to pay the whole principal amount + interests, in one lumpsum payment. PERIOD. Yes, you have to pay the over 200k at once.

Boss, 200k loan?! Kwani you used to get maximum 42k loan + 8k bursary for 5 years? smile



Ni kubaya! Used to get minimum 35K for five years. My principle is 2OOK plus. Will have to accumulate the whole 200K then. Am not paying those penalties bwana


Mine was 42K for five years plus 12.6 fourth term for 3 years: Total principal: more than 247K
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".

@ Layman...i did. There reply was that penalties will NOT be waived.

@ Robinhood, i informed my accounts supervisor by email a few day after expiry of my contract . They said penalties will continue to be charged since i had already started payment. Infact here is the reply:
________________________________________________________________
Dear sir/Madam

Your query has been received with appreciation.

We wish to inform you that as per HELB Act, 1995, once you stop/not servicing the loan, we automatically start levying penalty as explained in the attached PENALTY NOTICE. All other charges remain as per the loan agreement you signed on top of the annual ledger fee of Kshs 1000 that was legislated in 2004.

Further note that loan repayment/penalties, ledger fee cannot be postponed, suspended and or halted on condition of further studies, unemployment, ignorance about repayment among other reasons.

To avoid all these urgently start servicing the loan through any of the attached modes/options of repayment.

Attached find your loan statement as requested.

Thank you


With the information we provide about   what is the least contribution you can pay towards helb loan to avoid penalty

, We hope you can be helped and hopefully set a precedent with you . Or also you can
see our other references are also others which are not less good about  Pain for freshers as Helb delays cash disbursement


, So and we thank you for visiting.


open student loan :  http://www.wazua.co.ke/forum.aspx?g=posts&t=15378

Pain for freshers as Helb delays cash disbursement

3 month payday loans, car loan emi calculator, discover student loan, loan calc, loan calculator, loan interest calculator, loan payment calculator, savings and loans, simple loan calculator, student loans gov
Pain for freshers as Helb delays cash disbursement

when will helb disburse funds to 2015/16 first years? - Helb has extended a one month loan repayment amnesty and 80 per cent waiver on all penalties for loans paid in lump sum.

Students being served at the Higher Education Loans Board (Helb) offices last year. Helb has extended a one-month loan repayment amnesty and an 80 per cent waiver on all penalties for loans paid in a lump sum. FILE PHOTO | NATION MEDIA GROUP
By DAVID HERBLING, hdavid@ke.nationmedia.com



    The Higher Education Loans Board (Helb) has announced it will not send them any money until November.

 This may force some students to postpone their studies or forced them to seek cheap accommodation in unsafe informal settlements.

First-year students who have reported to public universities should brace themselves for a life of frugality after the Higher Education Loans Board (Helb) announced it will not send them any money until November.


    Helb to offer explanations, proof for loan denial

It is feared the wait for two months or longer may force some students to postpone their studies or to seek cheap accommodation in unsafe informal settlements.

Helb said it will close loan applications for freshers at the end of this month and, thereafter, take at least three weeks to process their requests. This means the earliest the body can disburse funds is November.

“Applications are still going on up to September 30, 2015. Thereafter, we take about three weeks to process,” Mr Ringera told the Business Daily.

For the second year in a row, Helb is delaying cash to newly students. Chief executive Charles Ringera said the loan application and disbursement cycle was “mutually agreed upon” by the agency, the deans of public universities and the central admissions body.

The higher education financier once more attributed the delay to the varying opening dates for the public-funded universities, saying this presents a logistical nightmare for the State agency.

“With varying opening dates, it becomes difficult to adopt an earlier date than the latest admission date,” he said.

But the Business Daily has determined that all but one of the 22 public universities have already admitted the 67,124 new students selected to join the institutions of higher learning.

For example, South Eastern Kenya University admitted its batch of freshers on August 24. A majority of institutions such as Kenyatta, Technical University of Mombasa, Maseno, Moi and Jomo Kenyatta University of Agriculture and Technology welcomed their first years between the last day of August and September 8.

The disheartening announcement to government-sponsored first-year students means that the freshers will have to pay for tuition and accommodation, among other expenses, from their own pockets as they await the Helb funding.

The loan delay will even be worse for freshmen who missed university housing as they have to source for extra funds to rent houses or hostels in the surrounding neighbourhoods.

University hostel charges range from Sh3,000 per semester while private hostels charge an average of Sh7,000 per month.

READ: Financing crisis pushes students to life in the slums

It is estimated that eight of every 10 university students admitted under what is popularly is known as “JAB” apply for financial aid from Helb.

The Kenya Universities and Colleges Central Placement Service last year replaced the Joint Admissions Board (JAB) as the entity which selects State-funded students to public universities.

With the information we provide about   when will helb disburse funds to 2015/16 first years?

, We hope you can be helped and hopefully set a precedent with you . Or also you can
see our other references are also others which are not less good about  HELB Loan Penalties, HELB Loan Interests Accrual Periods And Expected Monthly Payments of HELB Loan In Kenya


, So and we thank you for visiting.


open student loan : http://www.businessdailyafrica.com/Corporate-News/Pain-for-freshers-as-Helb-delays-cash-disbursement/539550-2865986-tr60cez/index.html

 HELB Loan Penalties, HELB Loan Interests Accrual Periods And Expected Monthly Payments of HELB Loan In Kenya

3 month payday loans, car loan emi calculator, discover student loan, loan calc, loan calculator, loan interest calculator, loan payment calculator, savings and loans, simple loan calculator, student loans gov
 HELB Loan Penalties, HELB Loan Interests Accrual Periods And Expected Monthly Payments of HELB Loan In Kenya

what is the least contribution you can pay towards helb loan to avoid penalty - Written by  Kikwetu Lifestyles

  
Penalties, Interest and Monthly Instalments of Helb Loan Penalties, Interest and Monthly Instalments of Helb Loan

For the students who have applied and gotten HELB loans, there are various questions you seek to know. Like When does the helb loan interest start accruing? When should I start paying helb after completion of university or college? Are there penalties to helb loans and when do they start accruing?

Well, for HELB students who have recently been receiving the loans, the HELB loan interests at 4% p.a starts to accrue the year that the student gets the loan. Earlier on, several years ago, helb interests were accruing at the end of receiving the complete loan of the years of study of a student. However, there were amendments that resulted in the interests accruing immediately a student acquires the first disbursement of the loan yearly.

A student who has completed university or college should start paying their HELB loan ONE YEAR later. Employed or unemployed, the student should pay the HELB loan to avoid penalties. For UNEMPLOYED students Helb Beneficiaries, the minimum amount that should be paid per month is KSH 1500 at any time of the month. For EMPLOYERS, helb remittances per month should be paid on or before 15th of every month. The employed Helb Beneficiaries of helb should pay a minimum of KSH 3000/4000.

For students who do not start paying their helb loans ONE YEAR after completion of university/college, Helb loan penalties start accruing immediately. The first month of defaulting has a penalty of KSH 10000, while consecutive months accrue a Helb penalty of KSH 5000.

With the information we provide about   what is the least contribution you can pay towards helb loan to avoid penalty

, We hope you can be helped and hopefully set a precedent with you . Or also you can
see our other references are also others which are not less good about  Illinois State Disbursement Unit


, So and we thank you for visiting.


open student loan :  http://www.kikwetulifestyles.com/page/28-helb-loan-penalties-helb-loan-interests-accrual-periods-and-expected-monthly-payments-of-helb-loan-in-kenya

Illinois State Disbursement Unit

3 month payday loans, car loan emi calculator, discover student loan, loan calc, loan calculator, loan interest calculator, loan payment calculator, savings and loans, simple loan calculator, student loans gov
Illinois State Disbursement Unit

illinois state disbursement - Welcome...


To the Illinois State Disbursement Unit(ILSDU).

The ILSDU is the payment processing center for Illinois child support payments. The ILSDU processes child support checks received from employers and non-custodial parents and disburses the funds via check, direct deposit or debit card to the receiving families.

Please login to perform the following

    View your Payments History
    Change your PIN
    Manage your Notifications

Additionally, you can perform the following without a login:

    View and print forms
    Find answers to Frequently Asked Questions (FAQs)
    Contact ILSDU(can also access while logged in)

Visit the Go Program® Way2Go Card® site at: https://www.goprogram.com

Important Information: The Illinois Department of Healthcare and Family Services offers free child support enforcement services to Illinois families. To get more information, visit the website at http://www.childsupportillinois.com/

The ILSDU and Go Program® will NEVER contact you by email, text message or phone requesting your PIN, card number or social security number. Any email, text message or phone call asking for that kind of information should be considered a fraud designed to steal your personal account information. Sometimes thieves pretending to represent a payment card issuer will make requests for a cardholder's account information that are designed to seem official. You should NOT respond to requests like these. Being informed is your best defense.

With the information we provide about   illinois state disbursement

, We hope you can be helped and hopefully set a precedent with you . Or also you can
see our other references are also others which are not less good about  Child Support Enforcement


, So and we thank you for visiting.


open student loan : https://www.ilsdu.com/

Child Support Enforcement

3 month payday loans, car loan emi calculator, discover student loan, loan calc, loan calculator, loan interest calculator, loan payment calculator, savings and loans, simple loan calculator, student loans gov
Child Support Enforcement

florida dor archived my child support case - The Department of Revenue is transitioning to a newly redesigned website. A site preview and site guide are available to assist throughout this transition. We would love to know your thoughts about our newly redesigned website/pages. Please share your thoughts with our quick survey!

Self-Service Options

    Pay and Receive Child Support — Make payments online or receive payments electronically.
    Child Support eServices — Parents paying and receiving child support can get case information online.
    Florida New Hire Reporting Center — Employers can report new hires and re-hires online.
    New! Child Support Employer Services — Employers can report terminations, separations, bonus information and more.


Apply for Services
Payment Information



Parent Services
Employer Services



Current Topics

    Earned Income Tax Credit (EITC)
    Working individuals and families may qualify for the federal Earned Income Tax Credit (EITC). Check to see if you are eligible to claim it on your federal income tax return.
    Florida KidCare
    Through Florida KidCare, the state of Florida offers health insurance for children from birth through age 18.
    Employers Make a Difference by Reporting New Hires
    Employers are required to send information about newly hired employees to the Florida New Hire Reporting Center shortly after the employee has been hired
    Service Bureau Login is Now Available in Employer Services!
    Service bureaus and payroll companies with an active Florida New Hire account can now login to Child Support Employer Services. You can report employee terminations, separations, bonuses, lump sum or similar one-time payments and even request copies of income withholding orders on employees for any of the employers you manage. Accessing these features is easy! Use your Florida New Hire account to sign in.

With the information we provide about   florida dor archived my child support case

, We hope you can be helped and hopefully set a precedent with you . Or also you can
see our other references are also others which are not less good about  Important Dates & Deadlines


, So and we thank you for visiting.


open student loan :  http://dor.myflorida.com/dor/childsupport/index.html

Important Dates & Deadlines

Important Dates & Deadlines
dcccd disbursement dates 2016 - View the 2016-2017 financial aid disbursement schedule.
Application Deadlines

Keep the following dates in mind when applying for financial aid.
FAFSA Deadlines

Wondering when to fill out the Free Application for Federal Student Aid (FAFSA)?
When a Student Is Attending College (School Year)    When a Student Can Submit a FAFSA    Which Year's Income and Tax Information Is Required
​July 1, 2016-June 30, 2017    ​Jan. 1, 2016-June 30, 2017    2015
July 1, 2017-June 30-2018    ​Oct. 1, 2016-June 30, 2018    2015
July 1, 2018-June 30, 2019    Oct. 1, 2017-June 30, 2019    2016

The colleges of DCCCD set up priority dates to make sure that if you qualify for certain types of financial aid, an award will be processed before the first day of classes.

    If you plan to attend Fall, the priority deadline for submitting your FAFSA application is May 1.
    If you plan to attend Spring, the priority deadline for submitting your FAFSA application is Oct. 1.
    If you plan to attend Summer, the priority deadline for submitting your FAFSA application is March 1.

See our FAFSA Overview for more information and tips about the FAFSA.
Scholarship Deadlines

While most scholarship programs have individual deadlines you must meet to be considered for an award, we recommend that you apply as early as possible.
Transcript Deadlines

If you attended any other institution(s), you must submit all official transcripts to us and we must evaluate them before we can award financial aid. See Transcript Requirements for more information.

The deadlines for submitting transcripts are the same as the FAFSA priority deadline dates:

    Fall — May 1
    Spring — Oct. 1
    Summer — March 1

60 Percent Dates

Federal regulations require you to repay a portion of financial aid funds if you withdraw from all classes before satisfying the 60 percent completion rule for the enrollment term.

The 60 percent dates for 2016-2017 are:

    Fall 2016: Nov. 2, 2016
    Spring 2017: March 30, 2017
    Early Summer 2017 (five-week module): June 24, 2017
    Late Summer 2017 (five-week module): July 29, 2017
    Full Summer 2017: July 15, 2017

With the information we provide about   dcccd disbursement dates 2016

, We hope you can be helped and hopefully set a precedent with you . Or also you can
see our other references are also others which are not less good about Financial Aid Disbursement Process


, So and we thank you for visiting.


open student loan :  https://www.dcccd.edu/PC/FA/Pages/DatesDeadlines.aspx?source=megabar
Copyright © 2016 student loans.