Students can now obtain HELB Loans to pay their school fees at Strathmore
Strathmore University students can now enjoy HELB loan funding following an agreement by Higher Education Loan Board (HELB) and Strathmore. This agreement allows students in need of financial aid to access financial support from HELB, a move that seeks to improve access to higher education for all deserving students. The goal of Strathmore is to offer financial support to deserving students who gain admission to study in the University. As Strathmore cannot provide scholarships to all applicants, it has established various student loan schemes to provide funding opportunities to those who would like to study at the school.
During the signing ceremony at the Strathmore University campus, Prof. John Odhiambo VC-Strathmore University applauded HELB office for doing a good job in supporting higher education in the country. Sensitizing on the Strathmore goal, Prof. Odhiambo added that so far 800 students have accessed financial aid thus far. Acknowledging the fact that lack of finance is a major hindrance in accessing higher education in Kenya, Prof. Odhiambo pointed out that the major problem lies in making funds accessible to the needy students. He added that this move will allow many students, especially from the outskirts, to access the financial aid enabling them to study and reaching their desired goals.
Apart from the loan recovery aspect, the partnership also includes the administration of Strathmore Educational Fund, a revolving Fund created within HELB that will continually provide loans and bursaries to students admitted at Strathmore. The University will provide financing and use the repayment from its previously awarded loans to grow the Fund. This will also include the use of HELB loan application infrastructure to manage the applications for the Universitys Students Loans Scheme.
CEO-HELB Mr. Charles Ringera commended Strathmore for picking students from humble backgrounds and turn their lives around. He added that they sort to collaborate with Strathmore as they have seen the work Strathmore has done so far with needy students through scholarships such as the recent Chase Bank Scholarships. If we pull all resources together we won’t have such a big gap of students lacking, he said. Mr. Ringera who is an alumni of Strathmore, was privileged to be involved in this process and congratulated Strathmore on the noble cause.
HELB is a State Corporation duly mandated to grant loans to Kenyans to assist them in obtaining higher education at recognized institutions within and outside Kenya. HELB is sufficiently equipped with institutional capacity and requisite experience to assist Strathmore administer its student loan schemes in totality.
The signing ceremony marked one and half years of discussion on the nature of the partnership and how to make it operational at Strathmore. The Vice Chancellor and HELB Chief Executive echoed the importance of such partnerships in providing access to young Kenyans and hope that other institutions will get involved in providing funding opportunities.
For more information on the loans go to https://strathmore.edu/en/financial-aid
See video below on the day’s event.