HELB outlines reasons why First years missed the fund; What to do next.
The higher education loans board, HELB outlines reasons why First years missed the fund, which has always been given to every undergraduate join campus.
The board cited that because of financial constraits, they were not able to disburse the fund to all students for the 2022/2023 financial year.
The statement read,”We regret that your Financial Year 2022/23 application will not be funded due to budgetary constraints. Apply for the 2023/24 subsequent application once we open,”
However, those who did not get the loan, can reapply for funding in the 2023/2024 Financial Year. A USSD code will be provided soon enough, to allow for the first years to apply for the loan.
HELB stated,“We received applications from students who missed out. Everything was verified but unfortunately due to financial constraints, were unable to help them.”
“As soon as we open the application, they do not have to apply afresh. They will apply as subsequent applicants,” they added.
Notably, continuing students have been assured of timely disbursement and that they have nothing to worry about.
HELB stated,”We financed almost 100 per cent of continuing students since we had to prioritise the lot. Our reasoning was that the students were already in session and therefore largely depended on the loan.”
The confusion on disbursement came in, after the head of state launched a new funding model for tertiary institutions. He explained that all those joining university in September 2023 will be funded through scholarships and loans.