The Higher Education Funding Model; The explainer
Please allow me to give a brief explainer on the Higher Education Financing:
1. The government has unveiled a New Higher Education Funding Model (NFM) geared towards enhancing the quality of higher education by providing sufficient financing.
2. This NFM is student centered, based on the course program cost and the student’s level of need.
3. The government will provide scholarship of up to 82% of the total program cost for the vulnerable students. HELB will provide a loan covering the remaining 18% of the program cost plus the upkeep amount as per the current funding model.
4. The only amount to be paid by the less needy based on the scientific means testing instrument (MTI) which has been used effectively by HELB for over 27 years is 7% of the program cost. This translates to Ksh. 48,000 per annum for the most expensive program costing Ksh. 612,000 per annum.
Note: the less needy students are categorized as those from wealthy families in the land.
5. The new development is that scholarship or grant was not known to the public and was not appearing on the student admission letter. So the inclusion of the total program cost (including scholarship/grant) in the admission letter is the major difference.
6. More importantly, the vulnerable & extremely needy students will for the first time receive 100% government financing plus a reasonable upkeep amount. No student will be left out without adequate financial support.
7. The institutions of higher learning which have been experiencing financial constraints will also receive adequate funding through this NFM to be able to offer quality education to Kenyans.
Therefore, kindly ensure that you encourage the form four graduates with admission letters to tertiary institutions to apply for both scholarship & HELB loan from Monday 7th August 2023 through the website www.hef.co.ke
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