President William Ruto dismissed reports saying that the Higher Education Loans Board is cash-strapped.
Speaking at Kisii National Polytechnic on Thursday, during the first day of his three day visit to Kisii, Nyamira and Migori counties, the president said that the government had, in the past two weeks, disbursed enough funds to HELB for lending to students across the country.
He said that the State is current finalizing plans to hire 2,000 additional teachers for TVET institutions.
The President said the state’s sentiments come after HELB CEO Charles Ringera on Wednesday told parliament that approximately 140,000 public university students had missed out on State loans, in the current financial year.
The CEO added that HELB will now have to wait for the national exchequer to release Ksh.5.7B for it to remit the loans to the university students who mostly use the advance to pay for their tuition fees and upkeep.
“Currently we have 140,000 students in TVET’s and universities that we have not been able to fund to the tune of Ksh.5.7B because we have run out of the budget that we had presented to the Treasury of Ksh.4.5B,” Ringera told Parliament’s Public Investments Committee on Education and Governance.
He also said that the state also failed to heed to a request by HELB to cover the cash shortage via an additional budget.
In the current fiscal year, HELB received Ksh.14.8B from the exchequer for the disbursement of student loans.