HELB To Increase KMTC Student’s Loan
The Higher Education Loans Board (HELB) has stated that financial assistance for Kenya Medical Training College (KMTC) students will be increased if they maintain a positive payback history.
During the opening of an education financing scheme for KMTC students in Nairobi, Helb Chief Executive Officer Charles Ringera said that loans totalling Sh2.9 billion were disbursed to 49,166 medical students during the 2021–2022 academic year.
“A total of Sh3.5 billion was disbursed to learners during the said academic year, a chunk of which went to KMTC students,” said Ringera.
Ringera urged recipients of Helb funding to repay their loans so that the board could help more students.
He said that KMTC students had repaid the agency Sh205 million to date.
“At least 2,500 KMTC students have completed payment of their loans, and a further 7,000 learners are in the process of repaying,” said Ringera, adding that 13,187 loan accounts had matured for repayment.
Ringera asked KMTC management to join aggressively in resource mobilization, leveraging their contacts with local government officials and other partners to seek financial help.
The CEO stated that KMTC and Helb would engage in joint resource mobilization in the new cooperation, where Helb would receive and disburse cash on the college’s behalf.
The two bodies will work together to decide what the requirements and conditions are for getting the cash.
During the ceremony, KMTC got Sh680 million from the National Treasury to increase student support for the current academic year.
According to KMTC board chairman Zachary Muburi, the medical college will receive an additional Sh170 million due to the partnership.
“It is our resolve, as a board, to continue providing good leadership for the college to effectively mobilise and utilise resources to meet its strategic objectives,” said Muburi.
Dr Kelly Oluoch, the chief executive officer of KMTC, stated that they will ensure the money goes to the most deserving students and that the selection criteria have already been established.