It has been revealed that the Higher Educations Loans Board has announced plans to float a sh 500m bond amidst fight to recover sh 7.2 billion lost in unpaid loans.
Helb board chairman Ekwee Ethuro told reporters that the bond will be floated by 2022 after the agency tabled proposals to the Treasury last December.
The move is expected to boost cash-flow and ease pressure on the agency that relies on the Treasury, loan repayments, grants from development partners and deals with counties and constituencies.
Speaking during the launch of Helb’s 2019-2023 strategic plan the ministry projected a Sh90.7 billion budget.
The Education CS said enrollment in universities has spike and there is an excess of 795,000 college students.
Meanwhile, 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.