Finance

New Higher Education Financing Model: What you need to know about Eligibility and The Application Procedure

As 2022 KCSE students prepare to join various higher education institutions, the Government has unveiled a new funding model that will ensure students facing financial hardships will not be required to pay any fees to colleges and universities including their upkeep.

Any student who prior to the introduction of this new funding model, had not applied for financing will be required to apply through the new platform. Key to note is that all continuing students will not be affected by this funding model and will continue to receive their funding based on the Government’s existing model.

What you need to know about the new funding model

In accordance with President William Ruto’s directive when he unveiled the new funding model on 3rd May 2023, students from the vulnerable and extremely needy households will receive 100% funding while the needy and less needy will get 93% government funding and a paltry 7% contribution from their households to cover for the tuition fees.

All university and TVET students who have received letters from universities and TVET colleges as per the placement from Kenya Universities and Colleges Central Placement Service (KUCCPS) are eligible for funding.

To effect this, the government has classified students seeking funding into four categories, the vulnerable, extremely needy, needy and less needy. The students joining private institutions too are eligible for the HELB loan and are encouraged to apply.  

Funding across the four categories will be determined by evaluating family economic background to ensure that students from poor households are given priority in terms of scholarship allocation while those from less needy households are covered by loan financing from HELB as has been in the past.

How to Apply for Scholarships and Loans in the Higher Education Financing Portal

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To get information on the new funding model, parents and students are encouraged to visit www.hef.co.ke,  HELB, UFB or visit Huduma centres for correct information on the new funding model.  Students who require funding must make formal applications through www.hef.co.ke from 8th August 2023 to the midnight of 7th September 2023.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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