Of this total, over 175,000 are undergraduate students, with an additional 70,000 enrolled in TVET programs set to benefit from the loans, which fall under the Old Higher Education Funding Model (OFM).

In a statement released on Wednesday, HELB CEO Charles Ringera disclosed that the loans are being disbursed in accordance with the students’ preferred payment methods, allowing them to choose between a bank account or the HELB Mobile Wallet.

Ringera emphasized, “Higher Learning Institutions (HLIs), including universities and colleges, are urged to facilitate students’ registration, as tuition fees for various institutions have already been disbursed. These funds should be reflected in the respective bank accounts of HLIs by October 5, 2023.”

He further noted that new students applying for funding under the New Higher Education Model (NFM) for loans and scholarships have until October 7 to do so, in line with an extension granted by Cabinet Secretary for Education Ezekiel Machogu on September 5.

The processing and distribution of student loans and scholarships under the new funding model will commence following the October 7 deadline.