Helb offices at Anniversary towers, Nairobi [Photo: Money 254]
The Higher Education Loans Board (Helb) has announced a 100% penalty waiver. According to HELB Chief Executive Officer Charles Ringera, the 100% COVID-19 penalty waiver dubbed ‘Kamilisha Malipo Ya HELB’ will run until 30th April 2022.
He noted that COVID-19 affected the economy leading to unemployment, challenges in the business environment and inadequate funding from the National Treasury resulting in a funding challenge for students.
“It is important for all beneficiaries to honour their obligation as stipulated in the loan application terms and conditions so as to empower the dreams of another needy student,” Ringera said in a press release.
Additionally, the 100 per cent waiver will be applied to Kenyans who are still paying their HELB loans or those who haven’t started paying the loans.
The move is aimed at encouraging loanees to repay their loans to allow the facility to benefit other students.
“HELB appreciates the fact owing to the prevailing economic situation, the loan beneficiaries’ repayment ability may take some time to stabilize,” Ringera said.
The Higher Education Loans Board (Helb) provides prospective students and graduates with loans, scholarships, and bursaries for their education in Kenya.