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The government through the Ministry of Education has officially launched the first-ever application portal for loans and scholarships for students pursuing higher learning.

According to a statement by Education Cabinet Secretary (CS) Ezekiel Machogu, the initiative under the Universities and Colleges Funding Model will cater to students joining Universities, Colleges, National polytechnic and other Technical and Vocational education and Training (TVET) institutions effective this year.

“Thanks to the New Funding Model, the Government will now provide scholarships and loans to students who will be joining Universities and TVET institutions, effective 2023/2024 Financial Year. The model introduces a student-centred funding model rather than block funding to institutions,” Machogu said.

The CS also announced that interested applicants should apply through the Higher Education Financing portal. Applications will be open from August 3, 2023, to midnight of August 27, 2023.

The new model which offers loans, grants and scholarships, is expected to address the financial bottleneck currently faced across institutions of Higher Learning.

Students will be able to acquire loans individually while scholarships and grants will be granted on a need basis.

“Fundamentally, grants/scholarships will now be awarded on a need basis just like loans have been awarded in the past. In the New Funding Model, all Scholarships, Loans and Bursaries will have to be Means Tested for each loan applicant. Consequently, funding to students will be funded according to their level of need level and programme cost,” the CS stateed.

“I, therefore, direct Vice-Chancellors and Principals to ensure letters of admission are released by 2nd August, 2023. This will allow students to apply for loans and bursaries from 3rd August, 2023 to the midnight of 27th August, 2023. I urge students to ensure they stick to the set timelines to ensure speedy processing of scholarships and loans since most Universities are preparing to admit First Year students in September,” he added.