HELB Swiftly Clarifies Rumors: Ensures No Temporary Fund Suspension
HELB Swiftly Clarifies Rumors: Ensures No Temporary Fund Suspension. On Wednesday, the Higher Education Loans Board (HELB) categorically refuted circulating rumors. That hinted at a temporary suspension in the disbursement of funds to students. In an official statement released, the organization not only discredited these speculations. But also underscored the critical importance of vigilance, source verification, and responsible sharing of information within the public domain.
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It’s noteworthy that HELB took a proactive stance by dismissing a letter circulating on social media. Allegedly signed by Education Cabinet Secretary Ezekiel Machogu, as unequivocally false. This official communication, dated January 4. Purportedly urged students to explore alternative fee payment methods with sponsors, parents, or guardians due to an alleged suspension in the disbursing process. The decision was seemingly linked to the prevailing financial challenges faced by the government.
Upon receiving this information, some students found themselves in a state of uncertainty. Grappling with the question of how to proceed with their academic funding. Others voiced their concerns regarding the delay in funding experienced in previous months. Underscoring the urgency of prompt disbursement to meet their educational needs.
Meanwhile, a significant transformation unfolded in the university funding landscape in 2023. Marked by the introduction of the Higher Education Financing (HEF) initiative by CS Machogu in July. This innovative system brought about a paradigm shift as the government began categorizing students into vulnerable, less vulnerable, or able groups, allocating funding percentages based on their unique financial situations.
Adding to this development, President William Ruto made a pivotal announcement in May 2023, declaring that universities and TVETs would no longer receive block funding from the government in the form of capitation. This marked a substantial departure from the traditional funding model, ushering in a new era of financial structuring for higher education institutions in the country.
HELB Swiftly Clarifies Rumors: Ensures No Temporary Fund Suspension.