The Education CS Amina Mohammed has said enrolment in universities has increased tremendously recording an excess of 795,000 college students.
Ms Mohamed said the annual Helb student loan budget has grown from Sh4.6 billion financing 109,189 students in 2012 to Sh11.4 billion for 248,050 students in the 2017/18 financial year.
Further, Helb announced it will be funding 24,252 students in Technical and Vocational Training Institutes (TVET).
It is estimated that this year, 262,764 students will be placed in TVETs while 90,688 will go to universities.
“This financial year, the Treasury allocated Sh300 million to cater for loans and bursaries for students in TVETs,” he said.
She said 53 percent Helb budget is funded by the exchequer and 47 percent from loan recovery.
So if the Helb fund allocation remains constant and the loan beneficiaries fail to service their loans, the Board will have no choice but either slash student allocations and dismiss some loan applications.
The CS was speaking during the launch of Helb’s 2019-2023 strategic plan in which they have projected a Sh90.7 billion budget.