Higher education refers to both formal and informal education and training after the basic education cycle. It involves middle level educational institutions and universities, whether public or private, that are authorized to provide higher education. Its objectives include the enhancement of general mental faculties, promotion of employment-oriented skills, furtherance of learning processes, and transmission of universal culture and citizenship standards. High education plays vital roles in human resource development, creation and dissemination of knowledge, promotion of social cohesion and civility.

However, financing higher education in Africa faces numerous challenges, including inadequate funding from the government, leading to the underfunded programs at higher institutions. There is also an increase in the number of students in dire need, especially with the increase of single parents due to the HIV-AIDS pandemic and the current COVID-19 crisis. Non-repayment of loans by previous beneficiaries affects future lending, with most graduates remaining unemployed. Additionally, heavy enrollment of competitive high-education applicants applying for HELB loans, along with slow economic growth, impacts financial allocation. Poverty among the parents/guardians also leads to non-payment of tuition fees, resulting in school dropouts or longer program completion periods. The high rate of graduate unemployment adversely affects prompt loan repayments, which depend on steady employment.

The lack of support from the private sector has been a major setback for the development of higher education in Africa, where the focus has been on providing basic education. The state, despite its policy of providing free and compulsory basic education to every child, cannot fully finance it, with the demand for higher education increasing rapidly. UNESCO reported a 5% rise in the number of undergraduates in 1990, necessitating an increase in funding to meet the growing demand.

Although there may not be a permanent solution to the problem of financing higher education, the following solutions can help manage it:

1. The government or state should provide more funds for higher education institutions, such as Higher Education Loans Board (HELB), which manages loan recovery and allocation to students. A proportionate increase in funding should match the increase in higher education enrollment.

2. Private sector involvement in higher education support should increase. The state has multiple obligations and may fail to meet them all successfully, necessitating support from willing partners such as UNESCO, UNICEF, Save the Child organization, and Plan International, among others.

3. Higher education institutions should find alternative sources of funding by engaging in research work that can generate funding for the university. Professors should receive funding to conduct research projects on topics that affect the economy, such as Covid-19 treatment, HIV-AIDS treatment, and control.

4. The government should jumpstart economic growth by facilitating business incentives such as tax waivers on specific commodities and short-term loans through SMEs. This will motivate businesses to thrive, thereby improving the economy.

5. Frequent market surveys should be conducted on courses offered by higher education institutions to ensure that graduates, if unemployed, can start their self-employment. Students should be equipped with skills for self-employment, rather than relying solely on white-collar jobs.

6. The government should increase loan recovery by tracing all graduates and ensuring that they repay the loans given to them. Graduates should be educated on the importance of loan repayment, and penalties should be attached to defaulters who intentionally refuse to pay, especially if they are already employed.

7. The government should find ways to reduce poverty levels among citizens to enable them to meet their obligations as parents/guardians, including paying fees for their children in higher education institutions and providing basic necessities.

8. A revolving fund should be created to assist needy and deserving students in addition to Higher Education Loans Board. Well-wishers can contribute to the kitty, employed Kenyans can contribute through NHIF. An orphan child remains an orphan even in higher educational institutions, creating the need for a kitty where willing and able Kenyans can contribute to support these unfortunate Kenyans.

References: None provided.

2) "Private Initiatives in Higher Education" by Thomas Owen Elsemon (1992), published by Springer, delves into the various private initiatives taken in higher education.

3) In "Financing University Education in Kenya," B.C. Cheboi (1995) discusses the consequences of seeking alternative sources of funding for university education in the country.

4) The Basic Education Act of 2023 guarantees every child the right to compulsory basic education.

5) The World Bank's 2010 report, "Financing Higher Education in Africa," explores the challenges and potential solutions for funding higher education in the continent.