Expanding Tertiary Education for Well-Paid Jobs: Competitiveness and Shared Prosperity in Kenya by Andreas Blom; Reehana Raza; Crispus Kiamba; Himdat Bayusuf; Mariam Adil

Author:Andreas Blom; Reehana Raza; Crispus Kiamba; Himdat Bayusuf; Mariam Adil
Language: eng
Format: epub
Publisher: The World Bank

CHAPTER 3

Student Loans: A Tool for Equitable Expansion

Introduction

A scaled, well-functioning, effectively targeted, sufficiently endowed and financially sustainable student aid system will be necessary to support Kenya’s ambitions for an expanded, quality post-secondary education system. In order for Kenya to fully capitalize on the significant human capital formation achieved through investments in improved primary and secondary education, the country will have to address the severe bottleneck developing at the post-secondary level due to the increasingly large cohorts of secondary graduates seeking entry to post-secondary education. In so doing, the country will need to ensure equitable access to vocational and higher education. This policy note addresses the specific policy challenges arising due to the need to provide student financing in support of equitable tertiary education expansion, and outlines the components necessary to ensure a successful system for student financing. The note presents an overview of the post-secondary education system in Kenya and analyzes challenges faced by, and opportunities to improve, the student financing system managed by Higher Education Loans Board (HELB) across three dimensions, and corresponding sections:

• Financial sustainability;

• The system’s ability to effectively target students most in need; and

• Effective loan recovery.

Policy recommendations are provided for each section.

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