Every student will be eligible for financial assistance- University fund CEO clarifies the new funding model.
Universities Fund CEO Geoffrey Monari has come out to clarify that the new Funding Model introduced by the government, will cover every student.
Monari stated,”Funding of students whether on scholarships, loans, or bursaries will be based on the level of need. Every student will be eligible for financial assistance. All students who scored C+ and above will be eligible for funding.”
Speaking at Lake Naivasha Resort during a two-day media sensitisation workshop on students’ placement process and the new higher education funding model, the CEO revealed that the government will increase money injected towards university learning by 20.3 Bn
He stated,”Under the new model, universities will be motivated to raise additional resources and to enhance the quality of education so as to attract more students.”
The CEO also outlined their optimism towards the new funding model, he stated that they are in support of Kenya kwanza’s directive because it will be of more benefit to every Kenyan student.
He stated,”We have a commitment from President William Ruto himself and his education minister Ezekiel Machogu. They have offered unwavering support and this is the best funding model for higher education. Rethinking the funding model was long overdue.”
Consequently, university funding policy and framework are to be reviewed to determine fees for different categories of students like government-sponsored, privately sponsored, and foreign students.
This comes after CS Machogu opened the portal and students can register courses. However, in terms of financing, students in public universities will be given the option to apply for government scholarships through a “fool-proof tool.
The model classifies students as; vulnerable, less vulnerable and able. Needy students will receive scholarships of up to 53 per cent and loans of up to 40 per cent while Able students will get 38 per cent of the cost of the program and 55 per cent in the form of loans.
Those in TVETs will be granted 32 per cent for government scholarships and 48 per cent for government loans.