The Higher Education Loans Board (HELB) has announced a penalty waiver of 100 percent.
The 100 percent COVID-19 penalty waiver, entitled ‘Kamilisha Malipo Ya HELB,’ will last until April 30, 2022, according to HELB Chief Executive Officer Charles Ringera.
COVID-19, he said, had a negative impact on the economy, resulting in unemployment, a difficult business environment, and insufficient money from the National Treasury, posing a funding difficulty for students.
“HELB appreciates the fact that owing to the prevailing economic situation, the loan beneficiaries’ repayment ability may take some time to stabilize,” Ringera said.
Ringera noted that the move is aimed at encouraging loanees to repay their loans to allow the facility to benefit other students.
The loans board has previously offered a 100% waiver in 2013 where 10,110 beneficiaries paid off 1.3 billion shillings.
In 2018, the exercise yielded 870 million shillings in loan repayments from 9,998 beneficiarie
