Uasin Gishu Education Revolving Fund Board has initiated a process that seeks to recover funds from students who were loaned by the County Government to pursue various courses in different institutions.
The County has so far issued about Ksh277 million as loans to more than 3,600 students since the program was launched over 9 years ago.
“This has been necessitated by poor repayments of the loans,” says Education Revolving Fund chair Dr Joel Chelulei.
So far, only Ksh1 million has been repaid.
Under the program, the county provided financial support to the students joining technical institutions and were to repay the money once they get a job.
In a meeting held on Monday by the board of the fund, it was agreed that strategies be developed to recover the funds due to the poor repayment of the beneficiaries.
Dr Chelule said they will use all the avenues available in order to recover the money.
Punitive strategies
“We have agreed to have clear records to assist us in the recoveries and that revolving officers to be empowered and facilitated,” added the board chairperson.
He further said they will use punitive strategies in order to recover the funds if need be.
Noting low repayment from the beneficiaries, Dr Chelule said “This is Government money and needs to be repaid so as to benefit other needy students” further urging the beneficiaries to ensure they pay the loan before the recovery process begins. ”
County Executive Member for Education Dr. Janeth Kosgei on her part assured the board that the Department was ready and willing to support it in the effort of recovering the loans.
“In the future, as a way forward, we will keep in touch with the beneficiaries from the time they join colleges, design a way to get progress reports to the department after every semester, and work with the institutions when the students are studying for close collaboration,” the CECM said.
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