Collective Sigh of Relief as KMTC and HELB Partnership Bears Fruits
KMTC students are a relieved lot following the good news that they will now be able to apply for Higher Education Loans Board (HELB) loans to enable them finance their education.
This comes after the official launch of the education financing scheme for KMTC students totaling to Kshs 680 million.
Speaking during the event held today (October 26, 2022) at the KMTC Nursing Assembly Hall in Nairobi, KMTC Board Chairperson Amb. Zachary Muburi-Muita reported that following the inking of a partnership between the College and HELB, KMTC will hand over an initial Kshs 170 million, disbursed by the National Treasury, to enable students start the application process immediately.
“It’s the Board’s resolve to continue providing prudent leadership so as to effectively mobilize and utilize resources to meet the College’s strategic objectives,” Amb. Muita said.
Thanking HELB for their invaluable support towards KMTC student’s financial aid, he added that “Let us keep seeking long-lasting solutions to ensure that none of our students are left behind for lack of finances to pursue their dreams at KMTC.”
The Chairperson observed that the money would go towards helping and empowering the most needy cases and that the ability to reach out to the most vulnerable members of society was reason enough to take pride in the gains made so far towards the objective.
He encouraged students to take an initiative by engaging in legitimate jobs to supplement their finances. This, he said, will prepare them for the world out there.
KMTC CEO Dr. Kelly Oluoch reported that the College in partnership with HELB has already developed a selection criteria to ensure the financial support goes to those it is intended for.
“We are all here today because someone believed in us and supported us in getting an education,” the CEO said challenging KMTC Principals and Heads of Department to take up an active role in resource mobilization to ensure sustainability.
Speaking at the same event, HELB CEO Mr. Charles Ringera noted that over the years, about 49,000 students have benefited from HELB loans. Of this, 13,187 accounts have matured for repayment with 2,500 students already having paid back in full and a further 7,000 in the process of repaying.
“The total amount repaid by KMTC students comes to Kshs 205 million from an initial disbursement of Kshs 3.5 billion shillings,” Mr. Ringera said emphasizing that sustainability of the fund was crucial to enabling more needy students access support to finance their education.
Reiterating Dr. Oluoch’s sentiments, Mr. Ringera encouraged Principals to actively participate in resource mobilization for the College as they are in close proximity to respective Members of Parliament, County Governors and other partners.
In the partnership between the two entities, KMTC will, among others, provide financing for the scheme in addition to collaborating with HELB in joint resource mobilization activities.
On the other hand, HELB will receive and administer funds on behalf of the College in addition to, collaborating with KMTC, to set up the criteria and conditions governing the granting and disbursement of financial assistance among others.
