Higher Education Loans Board (Helb) will award a total of 59,500 students who will be joining university this year.
According to Chief executive officer Charles Ringera, the loans board has already received a total of 23,200 applications.
For the first time loan applicants, the application portal was opened on July 1st and is expected to close by August 30th this year.
“To date 23,200 applicants have applied and printed the forms; and out of the 23,200 printed forms, 2,345 have been submitted for processing,” Mr Ringera said.
The board also indicate that only 70,000 who made the cut-off of C plain will be joining university from the total of 615,773 candidates who sat for the Kenya Certificate of Secondary Education (KCSE).
The government lowered the loan from the previous 10.1 billion to 9.6 billion shillings from thus year’s budget