The Kenya Universities’ Students Organisation (KUSO) President Antony Manyara has written a memorandum to the National Assembly protesting against the proposed reduction of the Higher Education Loans Board (HELB) allocation by the National Treasury.
The memorandum which dated May 21, 2024 addressed to the chairperson of Finance and National Planning Committee Francis Kimani Kuria revealed that the proposed HELB reduction poses a significant threat to the education and the future of the Kenya’s youth.
“The purpose of this memorandum is to express strong opposition to the proposed reduction of KSh3.7 billion in the budget allocated to HELB for the upcoming financial year starting in July 2024,” the memo read in part.
Manyara further recommended that the National Assembly to maintain or increase the HELB funding to ensure that all deserving students receive financial support.
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“The HELB budget should be maintained or increased and also implement robust strategies to enhance loan recovery, including legal actions against chronic defaulters and to engage with counties and corporate entities to mobilise additional resources for HELB,” he said.
In the proposal which has been submitted to the Members of Parliament (MP) for approval by the National Treasury for the Financial Year 2024/2025 represents a 10 per cent decrease from the previous allocation.
With the suggested allocation of KSh33.3 billion to HELB, it means under the new model, students would receive a revised range of KSh37, 000 to KSh47, 000 as opposed to the previous range of KSh35, 000 to KSh60, 000.
By Vostine Ratemo
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