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Economy

Students loans board eyes unclaimed assets funding

The Higher Education Loans Board (Helb) could be forced to seek more money from the Unclaimed Financial Assets Authority for student loans.

Education Principal Secretary Bellio Kipsang said during the 2015—2018 budget - Public Sector hearings at the Kenyatta International Conference Centre Thursday that the current budgetary allocation was not enough to cater for the rising number of needy students pursuing higher education.

He said the board would have to seek alternative resources to address the challenge.

“To allow the use of these funds, there is need for the current Unclaimed Financial Assets Authority Act to be reviewed to allow Helb to utilise at least 60 per cent of the unclaimed assets for student loans repayable after graduation as per the terms and conditions of other loans that are being managed by Helb,” said Dr Kipsang.

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