HELB extends 100 per cent waiver on student loans
The Higher Education Loans Board (HELB) has declared an extension of the 100 per cent Covid-19 penalty waiver on outstanding student loans by 60 more days. What this means is that that the 100% waiver on student loans, which was supposed to end on 30th April 2022, will now end on 30th June running from May 1st 2022. ( apply for the waiver here)
HELB Chief Executive Officer (CEO) Charles Ringera, in a statement yesterday, cited tough economic times and unemployment as some of the factors affecting the repayment of loans.
“Due to the Covid-19 Pandemic, Kenya just like many other countries globally has experienced a slowing down of the economy over the last 2 years. This, coupled with inadequate funding from the Exchequer [National Treasury], has inadvertently created a funding challenge for students seeking HELB Loans,” Ringera stated.
In addition, he noted that the initial decision to close the penalty waiver running from April 30th coincided with the back-to-school admissions, posing another financial challenge.
“HELB wishes to appreciate loanees of their commitment to repay their loans as well as encourage the loanees who haven’t started repaying to do so and repay in lumpsum.”
The institution says at least 75,000 students may not funded this year.