Ruto: University debts to be cleared within three years

The government has announced plans to clear all university debts within two to three years.

Speaking on Wednesday, April 30, President William Ruto stated that the move will be achieved by working together with university chancellors. 

‘'In the next 2 to 4 years, all the universities will be out of the debt trap,’' said Ruto.

His remarks follow a report tabled in Parliament in 2024, which showed that 23 of the 40 universities are on the verge of collapsing from heavy debts, with total debt burden across all institutions hitting a record Sh76 billion.

We've changed the saving culture in Kenya - President William Ruto. pic.twitter.com/Bb4s0s1ZpA

— The Standard Digital (@StandardKenya) April 30, 2025

However, according to President Ruto, the 23 struggling are on an upward trajectory.

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“The universities that were struggling 2 years ago with debt, 23 of which had been declared bankrupt, are now on an upward mobility.”

On the issue of university funding model, Ruto stated: “We are implementing a sustainable higher education funding model to ensure that every learner, regardless of their background, has a fair chance to pursue their academic ambitions.”

“Through institutions like this, we are empowering communities with the tools and knowledge to participate meaningfully in national development and wealth creation.”

The President was speaking during the Co-operative University of Kenya Chancellor Bernard Chitunga’s installation ceremony, who was appointed for the position for five years.

He expressed optimism with the leadership of the 36-year-old, now the youngest in the country, saying he is a firm leader, one that the country needs.

‘’The country needs bold and courageous leaders like you,’’ President Ruto said.

Adding: ‘’Chitunga’s elevation to Chancellor role reflects our collective conviction that young people are not merely leaders of tomorrow; they can also lead today.”