Public universities are on track to achieve financial stability within three years, President William Ruto has announced.
Speaking during the 59th graduation ceremony at Scott Christian University in Machakos Town, the President highlighted the impact of the new student-centered funding model.
He explained that he has resolved financial issues that nearly crippled public universities with some being closed.
“With this model, our universities are now in better financial shape and will settle their outstanding debts within three years,” he stated.
The government’s reforms have included disbursing Ksh.41 billion in loans and scholarships within one year.
Previously, by 2022, public universities had amassed over Ksh.120 billion in debt, with 23 of the 40 institutions at risk of closure.
“It is unacceptable to continue with a system that led to such massive debts. That is why I have focused on implementing a sustainable model to secure the future of university education,” President Ruto said.
He also acknowledged the challenges faced by Scott Christian University, which is owed Ksh.460 million under the old funding system.
The debt caused significant disruptions, including the university’s temporary closure.
“I understand the damage caused by the previous model, and I am committed to resolving these issues,” he assured.
The President noted that the government is working tirelessly to clear the debts owed to public and private universities.
He also emphasized that students in private institutions can now access funding through the Higher Education Loans Board, ensuring equitable access to higher education.
More promises
He urged public university administrators to be patient and allow students to sit their exams, despite funding delays caused by an ongoing court case.
During the event, President Ruto made additional pledges for Scott Christian University. The government will tarmac all internal roads, provide 100 computers for their ICT hub, and install a backup power system and generator to ensure uninterrupted learning.
The ceremony was attended by Africa Inland Church Presiding Bishop Abraham Mulwa, Cabinet Secretaries Migos Ogamba (Education) and Alfred Mutua (Labour), along with several MPs.
Follow http://Kenyaonline.xyz
