University students on campus [Photo/University of Nairobi]
Students in their first year will have to wait a little bit longer for their education loans as Higher Education Loans Board (Helb) disbursements will not be issued. This comes after thousands did not sign loan application forms.
Helb Chief Executive Officer, Charles Ringera has stated that no loans will be awarded until all the necessary application forms are signed and submitted.
He added that Helb is currently processing over 104,000 online applications submitted by the September 8 deadline. 74,541 have been signed while 29 per cent are still in need of the necessary signature.
“We may rush to award loans and leave out needy students and that is what we do not want,” said Ringera.
Considering most students are in need of the financial assistance, many have opted to protest in recent years.
As a result Ringera has asked all applicants to ensure that they have signed and submitted the necessary application forms so that they can proceed with the processing of loans.
“With the above numbers we hope to fund slightly over 80,000 first time applicants at a total cost of around Sh3.3 billion.”
As the number of students enrolling in public universities increases resources are beginning to diminish.