Kilifi North CDF partners with HELB to offer student loans

The Higher Education Loans Board service hall at Anniversary Towers in Nairobi. The fund has waived off fees for application of compliance certificates PHOTO: COURTESY.

Kilifi, KENYA: Kilifi North National Government Constituency Development Fund has partnered with Higher Education Loans Board to give education loans to self-sponsored University and College students.

The NG-CDF will set aside sh. 3 million every year as HELB will be contributing sh. 1 million to the kitty annually.

Kilifi North Member of Parliament Owen Baya on Monday said that the objective of the partnership is to ensure no student misses classes because of fees problems.

“The NG-CDF will contribute sh. 3 million while HELB will be contributing sh. 1 million every year,” Baya said.

“The NG-CDF contribution will be constant throughout the five years while HELB will be increasing their contribution every year and we are targeting 1360 students by the end of my five years term,” added Baya.

In the first financial year, 2018/2019, 160 students in different Universities and colleges will get sh.25, 000 each.

“We want to get ri the habit of students spending time looking for bursaries instead of staying in class,” said Baya.

“Once a student is enrolled in the program, money will be wired directly to the Universities’ accounts until they finish their studies. This is the best way to sustain the program,” he added.

However, Kilifi county executive committee member for education Professor Gabriel Katana, extolled the initiative saying it will scrap off the problem of most university students forced to drop out because of poorly managed bursaries.

“Self-sponsored students do not get loans from HELB which makes it hard especially for those coming from poor backgrounds,” professor Katana said.

“This ingenuity will be a game changer if properly managed. With Ksh25, 000 at least we expect to see more graduates after the five years,” added Katana.

The number of beneficiaries will be increased every year and students under the program will also be free to seek bursaries and scholarships from other agencies to aid in them paying their school fees.