Helb News Today 26th March 2023
Helb disbursement news today – The President’s assurance came on the back of concerns raised after the HELB officials told Members of Parliament that over 14,000 students in institutions of higher learning were staring at missing the loans.
Speaking while appearing before the National Assembly Committee on Education, HELB Chief Executive Officer Charles Ringera revealed that the Board had a deficit of Ksh5.7 billion in the funds needed to disburse loans to students across the country.
Ringera explained that HELB had exhausted the Ksh4.5 billion allocated by the National Treasury in a previous budget hence complicating the hopes of the students in universities and TVETs.
“Currently we have 140,000 students in TVETS and universities that we have not been able to fund to the tune of Ksh5.7 billion,” Ringera told the MPs.
The development came at a time fate of the fund was uncertain after President Ruto announced that his government was mulling changing HELB’s operations.
In early 2023, the President announced plans to abolish HELB and instead establish a national council that would cater for the needs of students in both universities and colleges.
Further, the President announced that his government would scrap interest on the education loans and double the funds allocated for supporting students in institutions of higher learning.
“This immediately doubles the current Higher Education Loans Board funding from Sh11 billion to Sh22 billion and eliminates interest on Helb loans,” Ruto stated.