Go for a low risk, go for bonds, shares might reward you yes, but they can also burn a sizable hole in that 300k, anyway take a look at the markets threads.

My advice is Buy a bluechip stock like JUBILEE or BAT they hardly dissapoint

Since you are not an investor, chances are you will get it wrong especially the first time, aim to become an investor by playing the fantasy market first but don't invest more than 20% of that cash in stocks.
I would advice you become entrepreneurial and start selling DVDs,buy a printer (3 in 1) and engage in photocopying n printing for your colleagues (if it's possible in your institution especially in your hostel room) or select n buy very nice body fitting T-shirt from the nearest clothing market and sell them at a margin to your colleagues on weekends and tell them it part of your school fee raising initiative and trust me you will be in business.
In short, become an entrepreneur first and you will thank me later. I did this and made at least 5k-10k per month

....and it is supposed to be LUMP-sum not ramp-sum

ANALYZE FAIDA INVESTMENT BANK BELOW AND MAKE UP YOUR MIND.

Counter Recommendation Comment
ARM
BUY
Our target price of KES 141.07 provides a 76.3% upside potential from the current market of (KES 80.00). With significant limestone deposits in East Africa and investment in integrated capacity, we see ARM as being well positioned to integrate vertically. This will come with significant market power which we expect to sustain growth in the future.
Bamburi
BUY
Our price target of KES 233.24 provides a 33.2% upside of from the current market price of KES 175.00. We expect the export and contractors market to be key drivers of growth. We also expect Bamburi to leverage on its parent company (Lafarge) in its strategy to make cement more of a service than a commodity.
Jubilee
BUY
Our target price of KES 516.85 provides a 35.6% upside potential from the current market share price of KES 381.00. Jubilee’s strong regional presence (about 5 countries), ties to AKFED and strong banc assurance will help it write more premiums. We also see Jubilee’s strong associate business as a key driver of growth.
Kenya Re
BUY
Our target price of KES 26.10 provides a 45.0% upside potential from the current market of KES 18.00. Kenya Re is exposed to a nascent industry and we expect a positive correlation to its written premiums and the industry’s premium. We are also of the opinion that should the mandatory cessations end, growth in international business would cushion Kenya Re.
CIC
BUY
Our target price of KES 11.56 provides a 45.4% upside potential from the current market share price of KES 7.95. We see CIC benefiting (both in Kenya and regional) from its relationship with the co-operative movement both in the writing premiums (preferred insurer for co-operatives) and banc assurance (partnership with co-operative bank).