The Higher Education Loans Board (HELB) Chief Executive Officer (CEO) Geoffrey Monari has assured the Parliament that the board has enough funds to cover the September intake despite a funding deficit.
Speaking when he appeared before the National Assembly Committee on Implementation on Saturday, August 9, Monari was tasked with explaining whether HELB was ready to cover the cost for students based on the new funding model. "With the new funding model in place, what is the availability of these funds to the new students, knowing that some are placed in tiers that require them to pay quite a large amount of fees?" Kajiado East Elijah Memusi asked.
Monari told the committee that even though the allocation of the Ksh41 billion to HELB for the 2025/2026 fiscal year was not sufficient, the board was confident that the National Treasury would meet the deficit in the 1st supplementary.
University Fund CEO Geoffrey Monari speaking at an event on March 25, 2022, Photo Geoffrey Monari In the meantime, he told the lawmakers that HELB was ready to support both new and continuing students, as the allocation had been upped from Ksh36 billion in the previous financial year. "We do have money to finance the students.
