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Students should be trained on how to use the Higher Education Loans Board

Each year the Higher Education Loans Board distributes loans to more than 50,000 students in Kenya both in the university and college.

The money is given so as to take care of their tuition fees together with their upkeep.

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In most public universities the total fees per year is approximately Ksh 50,000. The first distribution which occurs in the beginning of the semester is Ksh 4,000 which is given directly to the school. The rest is left in the account of the students. However, in some cases this is not how the money is used by some students.

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In campus especially when the first disbursement is issued, some students do not even attend classes let alone coming to the varsity and within a period of two weeks their account balance is reading negative. To make matters worse, the same students end up not sitting for their final exams at the end of the semester because they have not cleared their fees.

Read Also : Vocational courses : Ways to Tackle Graduates Unemployment

In one experience, I remember one of my coursemates using the whole of his Helb money to bet in a football match betting game and he ended up losing the bet. This was so depressing for him and thus ended up dropping out of the university at first year the second semester.

This has been a big issue now and it is mostly affecting the first years because the amount of money given to them without being monitored ends up not benefitting them in any good way. The government should hold counseling forums for those students who are issued with Helb. This can be effective if they agree with the universities in Kenya to add counseling for how to use their Helb in the orientations which are held by these institutions for the first years.

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However, despite of most students using their Helb in a wrong manner, there are some students who use it to grow themselves. This might be through opening small businesses like shops, cybers, movie shops, selling smokies, salons and barber shops inside the university.

Others even invest in some companies and thus end up becoming millionaires while still in school like Eugene Mbugua who is the founder of the biggest television production companies @ Young Rich Television in Kenya. He is also an up and coming real estate tycoon.

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All this just depends on decision making. Thanks to some universities which introduce common units such as critical thinking in the society. This unit opens the minds of many, that it is not just the books. It is also not just about being employed because one can be their own boss. Also organizations such as Safaricom has been a game changer in most of the youths lives because they hold forums such as (BYOB) Be Your Own Boss each year.

These forums help educate the youth on matters of growing themselves through their own ideas. It does not matter how small one capital’s is because with commitment you can make it.

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