Demand for higher education in Kenya has increased despite insufficient funding from the Government. This led to the cost-sharing policy where both the Government, the students, and their households share the costs of higher education. Students are provided with loans through Higher Education Loans Board (HELB). Public universities are supported through capitation grants to meet development and recurrent expenditure. The household contributes towards tuition and upkeep of their students. At Maasai Mara University, it has been observed that at the end of every semester, some students defer their examinations due to fee balances implying that there are gaps in the existing methods of financing a university education. This study, therefore, investigated the effectiveness of the financing methods and their implications on students’ access, completion rates, and quality education based on students’ experiences at the University. The study used a descriptive survey design. The target population was 950 education students who were in their third and fourth years of study. Stratified random sampling was used to select 315 students to participate in the study. Data were collected through questionnaires and interview guides for the class representatives. Documents were also analyzed. The study found that the majority of the students depended on HELB and support from their households to finance their education. The amount of loans allocated to students was inadequate and multiple sources of funding are required to meet the full costs of education. Students from poor backgrounds resorted to menial jobs which affected class attendance and learning outcomes. Other students deferred their examinations affecting academic progression. The study concluded that the current methods of funding university education were not dependable as they negatively affected students’ access, academic progression, completion rates, and quality of learning outcomes. The study recommended the need for an alternative financial support system for students from poor families to complete their studies on schedule.

The government of Kenya allocates between 35 to 40 percent of the total budget to education. It is essential that public funds be directed effectively and used for the purposes for which they are allocated for. This study was therefore set to establish the perceptions of stakeholders on the effect of financial mismanagement on physical facilities in public secondary schools in Gucha district. The study employed a descriptive survey design. The study population consisted of 126 headteachers, 126 heads of departments, 126 Board of governors‟ chairpersons, 126 bursars, 1011 teachers, and 10 quality assurance officers. Stratified random sampling technique was used to select 5 boarding schools, 37 day schools, 42 headteachers, 42 Bursars, 42 heads of departments, 42 BOG chairpersons, 337 teachers while purposive sampling was used to select 10 quality assurance and standards officers. Data was collected by the use of questionnaire, interviews schedule, Focus group discussions and observation forms. Data collected were analyzed using both Quantitative and qualitative methods. The study established that financial mismanagement had adversely affected physical facilities. From the study it was concluded that mismanagement had affected the quality of education negatively. Based on the findings of the study it therefore emerged the need for financial training for all stakeholders involved in financial management directly and indirectly.