Modifications to the University Funding Formula.
After a government assessment of the new funding system, which takes place months after it was first unveiled, all parents whose children attend universities and colleges will now have to pay tuition. Since that all households will now be responsible for paying the fees, this change runs counter to the original intention, which was to relieve parents who were unable to afford their children’s higher education.
The revised model for funding has been modified to incorporate household contributions, tuition fees, student maintenance, and scholarships. The four student classifications of “vulnerable,” “extremely needy,” “needy,” and “less needy” have also been renamed as “bands” and increased to five.
According to this updated model, financial aid for all students who fall into these five categories would range from Sh40,000 to Sh60,000, based on the financial stability of their household. It has emerged, though, that all households will, in fact, split the expense of their children’s education, departing from the original plan.
This assessment was necessary because of doubts regarding the viability of the funding formula that President William Ruto proposed. The “vulnerable and extremely needy” were excluded from any home charges under the original plan because the government planned to pay for all of them. The seven percent contribution to a university education was supposed to go only to the “needy and less needy,” with different percentages going for loans and scholarships.
New University Fees in Light of Modified Funding Formula
The information showed that the original funding plan would end up being overly expensive in the long term. Concerns have been raised by government sources over the necessary funds, which they feel might not last in the upcoming years.
Approximately 126,825 TVET students and 116,532 university students have applied for loans and scholarships in spite of the difficulties. Funding institutions have finished verifying and classifying almost 220,000 students, and negotiations are in progress on the disbursement of money for loans and scholarships.
However, because the State has been slow to provide financing, public institutions and collegescolleges are experiencing a financial crisis. Since the money for new students has not yet been disbursed, vice chancellors have been forced to use monies intended for continuing students to sustain the budgets for the first year.
With the expectation that the funds will soon be made accessible to universities, the situation has raised questions about the government’s capacity to adequately oversee the funding process. All things considered, there is still discussion and worry about the new funding plan’s viability and implementation.
Modifications to the University Funding Formula.
Read also: Education: How the new university funding model works