Helb opposes Raila’s plan to convert student loan into grant
The Higher Education Loans Board (HELB) has opposed a proposal by Orange Democratic Movement (ODM) party leader Raila Odinga to convert the student loan into grant should he win the presidency in 2022.
Helb Chief Executive Officer Charles Ringera said government has Ksh43 billion education grant already.
“This is money paid to students in universities through the Differentiated Unit Cost (DUC) and they do not pay it back,’ said Ringera.
On top of the grants, Ringera said the loan's board is already running Ksh237 million bursary fund for students.
Raila on Tuesday October 19, 2020 vowed to convert student loans, often given to students in tertiary institutions by the Higher Education Loans Board, into a grant.
Raila, who was speaking to Chuka University students in Tharaka Nithi County, promised that should he ascend to power, he will make the loans a grant and free Kenyan youths from the huge debts that they owe the Higher Education Loans Board.
The former premier also reiterated his earlier promise to offer a cash transfer to jobless youth and persons living in poverty.