Varsity freshmen miss Helb loans second year in a row

Varsity freshmen miss Helb loans second year in a row

Varsity freshmen miss Helb loans second year in a row

2016/17 helb second disbursement - Helb said the freshmen, who started joining public universities last week, will have to wait till October — the earliest time money is expected to have come from the Treasury — for initial disbursement.
The majority of loan applicants come from poor households and require financial support from Helb to pay for their tuition and upkeep. Most universities require full payment of a semester’s fees to admit students and delay in disbursement, therefore, risks forcing some freshmen to postpone their studies.
Helb chief executive Charles Ringera yesterday attributed the delay in disbursement to late posting of admission letters to students,  presenting a logistical nightmare to the board. 
“Remember we must receive all applications to make a decision on how much will be disbursed and how many students will benefit from the loan programme,” Mr Ringera said.
Helb opened the window for loan applications towards the end of July, which will close on September 30, to be followed by processing of the requests before the cash is released to the students’ accounts. This means the students should expect a two-month delay in disbursement.
The erratic funding poses a challenge to Kenya’s quest to build a large pool of quality manpower, especially in the sciences, that is needed to get the economy on an industrialisation path by 2030.
Helb has suffered similar delays in previous years as it battles the dilemma of chasing past beneficiaries who have refused to pay their loans and the rapid growth in student population.
The agency funds needy students to the tune of between Sh35,000 and Sh50,000 per year, based on their economic background.
Of the total loan disbursed, Sh8,000 is sent directly to the university as tuition fees and the balance to the beneficiary’s bank account in two equal tranches covering the first and second semesters.
Delay in disbursement therefore means that the first-year students will have to find alternative means of paying for their tuition, accommodation and upkeep as they await government funding.
Maseno University was the first to admit freshers on August 15 while Jomo Kenyatta University of Agriculture and Technology (JKUAT) opened its doors to theirs yesterday.
Kenyatta University will admit its first-year students on Monday August 29 while Moi University is expected to do so on September 5.
The University of Nairobi will admit students pursuing science courses on September 5 while those in humanities and social sciences will join on January 9, 2017.


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