The Kenya Medical Training College has received Sh. 680 million from the National Treasury to help pay for higher education.
With this change, KMTC has joined the list of institutions that have received funding, including public universities, national polytechnics, and Technical, Industrial, Vocational, and Entrepreneurship Training (TIVET) programs.
This is a component of a cooperative initiative between Treasury and the Higher Education Loans Board (HELB) to increase access to higher education. According to the KMTC authorities, it was one of the highest educational funding allocations in the College’s history.
Students from the most vulnerable backgrounds are the focus of the funding. “We encourage eligible students to apply as we have already received the first tranche of Sh. 170 million,” Board Director Amb. Zachary Muburi-Muita said at the fund’s Nairobi launch.
More than 54,000 students are currently enrolled in the College, studying for higher diplomas, diplomas, certificates, and short courses.
Amb. Muita advised the students to look into other sources of financial support as well as find legal employment to supplement the funding, warning that the allocation might not be enough.
According to the agreement, HELB will accept and manage funds on behalf of the College, as well as establish the standards and guidelines governing the approval and disbursement of financial aid, among other things.
CEO Dr. Kelly Oluoch praised the National Government for taking the College into consideration and noted that the money will come as a huge relief to many deserving students who are currently on the edge of leaving the College because they cannot afford the tuition.
Mr. Charles Ringera, CEO of HELB, disclosed that around 49,000 students have previously benefited from the loans. Of these, 13,187 accounts have reached maturity for repayment, he said, with 2,500 students having already made a full repayment and another 7,000 in the process.
Furthermore, “after an initial transfer of Sh 3.5 billion, KMTC students have repaid a total of Sh 205 million.”
The two organizations have detailed a variety of steps to assure the funding’s sustainability, including.