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Medical students to get more loans from HELB

Graduating Students at Kenya Medical Training College, displaying their awards and certificates after the ceremony on Thursday, 2nd, December 2021. [Samson Wire, Standard]

Financial support given to Kenya Medical Training College (KMTC) students will be increased after beneficiaries set a good repayment record, the Higher Education Loans Board (HELB) has said.

Speaking in Nairobi during the launch of an education financing scheme for KMTC students, Helb Chief Executive Officer Charles Ringera said Sh2.9 billion in loans was dispatched to medical students during the 2021/2022 academic year, benefitting a total of 49,166 learners.

"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 called on beneficiaries of Helb financing to repay their loans to enable the board to support more learners. He noted that so far, the body had received Sh205 million repayment from KMTC students.

"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 urged KMTC management to actively participate in resource mobilisation, taking advantage of their relationships with local government leaders and other partners to seek financial support. 

The CEO said in the new partnership, KMTC and Helb will engage in joint resource mobilisation, where the body of the loan will receive and disburse funds on behalf of the college.

The two entities will collaborate in developing the criteria, terms and conditions that will govern eligibility and disbursement of the funds.

During the event, KMTC received Sh680 million from the National Treasury to boost support for students in the current academic year.

KMTC board chairman Zachary Muburi said the partnership with see the medical college benefit from an additional Sh170 million.

"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.

KMTC Chief Executive Officer, Dr Kelly Oluoch, said they will ensure the money goes to the most deserving cases, and criteria for selecting beneficiaries has already been developed.