Alternative methods of financing higher education in Kenya

Abstract

The impact of the global financial crises on prospe cts for achieving equal access in education continu es to be a heavy burden for developing countries and its cit izens. In the face of increased poverty and vulnera bility and with inter-sectored competition for national financ ing, there is need to rethink on alternative method s of bridging the government financial gap especially in the higher education sub- sector. Household financ ing of education is faced by several challenges especially if the mechanisms include fees from savings, borro wing from commercial banks and relying on friends and re latives for contribution. Education expenditures ar e major component in consumption of households with c hildren in school. As the government funding reduce s in higher education, it affects access especially for the poor. This paper analyses the alternative methods availab le to the poor households in, Nyeri district, Kenya and challenges they may face in bridging the government education financial burden.