Mombasa: The Higher Education Loans Board (HELB) has reached out to teachers nationwide, urging their collaboration in identifying students who are genuinely in need of financial assistance. This initiative aims to ensure equitable access to funding for tertiary education.
According to Kenya News Agency, HELB Chief Executive Officer Geoffrey Monari addressed the 48th Kenya Secondary Schools Heads Association (KESSHA) Annual National Conference in Mombasa, emphasizing the board's commitment to enhancing the country's human capital for global competitiveness. Monari highlighted the significant financial benefits of completing a Technical and Vocational Education and Training (TVET) programme compared to just holding a Kenya Certificate of Secondary Education (KCSE).
Monari detailed HELB's ongoing efforts, noting that the board has distributed over Sh179 billion to more than 1.7 million beneficiaries since its inception in 1975. Currently, 463,150 loanees are actively repaying a total of Sh66 billion. However, HELB is grappling with a Sh36 billion funding shortfall, having received Sh41.5 billion to date.
He pointed out that the board is monitoring 490,817 loan accounts, with 293,122 being serviced and 245,030 in default. Monari urged defaulters to fulfill their repayment obligations, highlighting that the teaching profession boasts the highest number of HELB loan repayers.
Addressing the controversy over university education costs, Monari defended the affordability of HELB loans, with an interest rate of 4 percent. He stressed the importance of education over ignorance, despite misconceptions about loan expenses.
Monari proposed a closer partnership with schools to identify deserving students, after past attempts to work with local chiefs proved ineffective due to misuse and demands for facilitation. He acknowledged challenges, such as the reluctance of genuinely needy students to disclose their backgrounds and wealthier students falsely claiming neediness.
Monari concluded by emphasizing the need for teachers to assess students' financial histories to ensure funding reaches those most in need, preventing financial barriers from hindering educational opportunities.