Financing Education in Kenya Through Cooperatives
Mwenje, Mutungi Stephen
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The purpose of the study was to document the cooperative movement contribution in financing education. The study in a nutshell shows the nature and extent of cooperative contribution in financing education and the impact it generally has on education in Kenya. A highlight of recommendations on how the contribution can be enhanced was also the objective of the study. A case study approach type of research was used on one cooperative society and the researcher made a detailed examination of the institutions loaning activities. The case study design constituted an analysis of the cooperative society's contribution in financing education. It compared with other stakeholders who contribute towards financing education with a view to establishing the stake of the cooperative c movement in education finance. The locale of the study was the larger Nyeri District. The target population constituted members of one cooperative society who were sampled from the seven Districts in the larger Nyeri District. For comparative purposes, contributions from the local authorities, constituency bursary fund, and the central government (DEO) were sought. The research instruments were mainly questionnaires and interview schedules. The questionnaires and the interview schedules were administered to the target population through the use of seven research assistants distributed in the seven Administrative Districts. The data collected was categorized, edited, tabulated and analyzed. The study found from sample of Teachers Sacco Members that Ksh. 65 million was advanced to members in form of school fees which was not enough to cover the cost of school education. From the sample a total of Ksh. 76 million was advanced as Normal loan by Nyeri teachers SACCO to its members in the last five years. Out of this normal loan, members spent Ksh. 39 million (51.2%) to pay school fees; Ksh. 21 million (28.7%) was used for development while Ksh. 15 million (19.78%) was used for medical purposes. A total of 8778 males and females have benefited from school fees loans in Nyeri Teachers SACCO Society Ltd. In comparison with other stake holders a total of Ksh. 538 million was given in form of bursaries from the DEOs, 855 million from Nyeri Teachers SACCO and through CDF a total of 116 million. The study found out that the co-operative was financing more than half of the education amount when compared to both CDF and Government contribution, yet its contribution is not documented in government books. The researcher therefore suggests that the government should consider funding MOCDM adequately.