The Higher Education Loans Board (HELB) says it will offer a 100 per cent penalty waiver for loans fully repaid within the next 60 days to encourage repayment.
HELB Chief Executive Officer Charles Ringera said the 100 per cent COVID-19 penalty waiver dubbed ‘Kamilisha Malipo Ya HELB’ will run until 30th April 2022.
The board says the Covid-19 pandemic affected repayment leading to a funding challenge.
“HELB appreciates the fact that owing to the prevailing economic situation, the loan beneficiaries’ repayment ability may take some time to stabilize,” the Board said through an official statement released on Tuesday, March 1, 2022.
“It is important for all beneficiaries to honour their obligation as stipulated in the loan applications terms and conditions so as to empower the dreams of another needy student.”
The loans board has previously offered a 100 per cent waiver in 2013 where 10,110 beneficiaries paid off Ksh 1.3 billion. In 2018, the exercise yielded Ksh 870 million in loan repayments from 9,998 beneficiaries.
Through your timely repayment, you continue to empower the dreams of many students currently in session and those coming after them. #TuendeleeKulipaHELB pic.twitter.com/q0R0qRA5hp
— OFFICIAL HELB PAGE (@HELBpage) January 13, 2022
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