Universities Fund chief executive officer Geoffrey Monari has warned against fee increments for government-sponsored students.
He said Universities going against the agreement will be penalized and the Memorandum of understanding signed with them revoked.
This warning comes ahead of the 2022 Kenya Certificate of Secondary Education candidates reporting dates to various Universities and colleges.
"Universities have signed a memorandum of understanding with us based on the fees they charge. If they increase fees, then the MOU will be revoked and they will be charged." Monari said.
Additionally, Monari assured students that those who will apply for funding will get scholarships and loans and no student will miss funding under the New Funding Model.
He disclosed that the government will avail both Scholarships and Loans for 130,485 students in public universities and the 9,662 in private universities will get loans only.
"There is no student who will miss funding because the number of students we estimated is higher than the ones that were placed," he said.
Monari stated that when a student changes a program or a university, the loan or scholarship will still be transferred to them.
Monari disclosed that all under-18 students are to be awarded scholarships as they await loan awards when they attain 18 years while students placed in private universities will get loans only.
Monari revealed that the Universities Fund aims to increase the number of students going to university from 19 per cent to 30 per cent.
"We are producing graduates for our global market," he said.
In May, President William Ruto unveiled the New Funding Model aimed at primarily benefiting students from extremely poor backgrounds.