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Higher Education Loans Board faces budget cut in 2023

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Higher Education Loans Board faces budget cut in 2023

Higher Education Loans Board faces budget cut in 2023

In the upcoming 2023 Budget Policy Statement (BPS) to be presented to the National Assembly, the education sector has been allocated Sh597 billion, an increase of Sh53 billion from last year’s budget baseline.

The allocation is aimed at supporting the sector and addressing the challenges that it faces. The Presidential Working Party on Education Reforms is expected to provide recommendations on how to improve the sector, among other issues, by the end of this month.

The Higher Education Loans Board requested Sh25 billion for student loans in universities and tertiary colleges, but the allocated budget is Sh17 billion. This reduction could affect students who rely on loans to pay for their education.

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The proposed Open University of Kenya has been allocated Sh1.8 billion. A technical committee, led by Prof Ezra Maritim, is working on establishing the university, which is expected to start admitting students in September.

The State Department for Technical Vocational Education and Training has been allocated Sh1 billion to construct technical training institutes in the remaining 52 constituencies. Each constituency will receive Sh20 million to initiate construction, with a projected completion timeline of three years.

The education sector in Kenya faces numerous challenges, including inadequate infrastructure, insufficient funding, and a shortage of trained personnel. The increased budget allocation for the education sector is a positive step towards addressing these issues.

However, there is still a need for more support to be given to the sector to ensure that all students have access to quality education.

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The reduction in funding for the Higher Education Loans Board could have negative implications for students who depend on loans to pay for their education. This could lead to a decrease in the number of students who are able to enroll in tertiary education, particularly those from low-income households.

The proposed Open University of Kenya is expected to provide more opportunities for students to pursue higher education. The establishment of the university will require significant resources, and it is encouraging to see that it has been allocated a significant amount of funding.

The construction of technical training institutes in the remaining 52 constituencies is expected to boost vocational education in Kenya. This will provide more opportunities for students who are interested in pursuing technical and vocational courses.

In conclusion, the increased budget allocation for the education sector is a positive development, but more needs to be done to ensure that all students have access to quality education.

The education sector plays a critical role in Kenya’s development, and it is essential that it receives the necessary support to overcome the challenges it faces.

Higher Education Loans Board faces budget cut in 2023

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