University students could soon have their loans increased with the Higher Education Loans Board (HELB) already negotiating with the World Bank. HELB CEO has confirmed that the student loan agency is in talks with the World Bank and British Department for International Development for more funding.
“The talks have been ongoing for four months now,” Mr. Charles Ringera, the CEO of HELB said.
Ringera said they plan to increase loan allocations by a maximum of 20 percent to enable beneficiaries meet the cost of living which has already risen.
This comes as good news to students who, over a month ago, violently protested a proposal by the commission for University Education to increase tuition fees and instead called for the fees to be reduced and the loans increased.
The plan to increase student loan allocations comes despite an earlier suggestion that HELB may be forced to reduce the loans after the treasury failed to increase its allocation for this financial year.