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Pwani University, which was shut on February 19 to avert student unrest, will reopen on March 7.
But learners who have not paid tuition fees will not be allowed back.
Reports indicate about 900 student owe the institution Sh40 million in unpaid fees and have been asked to defer their studies until they can pay.
Authorities closed the institution after issuing a decree on fee defaulters to leave the school after alleging students were planning chaos.
Last Friday, an official said the university has beefed up security to avert violence. It had reopened for the second semester on January 15 and students had been given a month to pay outstanding fees before sitting examinations, which were to start before the closure.
Yesterday, Vice Chancellor Mohamed Rajab announced the reopening of the institution in a notice that said all fully paid up third and fourth year students are required to report on Monday while first and second years report after two days.
He said all pending fees must be paid by Friday and no payment would be accepted after that. "Students have up to Friday to pay all pending fees balances. No payment will be accepted after this date," said Mr Rajab.
But students claimed most of them could not raise the required fees due to poverty facing their families
Led by Pwani University Students Association President Wilson Shoka, they expressed fear that most students, especially the Fourth Years, could be deferred and miss their last examinations.