Why you need to clear your Helb loan this month
Helb is owed Sh9.5 billion by past beneficiaries and in the past few years has been struggling.
As a result, the commission has been forced to think outside the box in order to remain afloat and keep on financing higher education.
The board has issued a one-month amnesty to defaulters willing to pay in lump sum to clear their dues in order to enhance loan repayment.
Helb official Naftali Michira said that heeding the offer will see a loan beneficiary enjoy 80 per cent penalty waiver.
“The amnesty is up to 80 per cent penalty waiver for anyone whose account has attracted penalties. This waiver is on condition that a lumpsum payment is made,” the board said.
Helb is owed Sh9.5 billion by past beneficiaries and in the past few years has struggled to provide needy students with financial assistance to complete their university education.
Since its inception the board has financed education of 650,000 Kenyans but about 85,000 beneficiaries have declined to pay their loans according to the commission.
Strict compliance to enforcement by corporate firms, private companies and State agencies saw Helb managed to recover up to Sh3.99 billion in 2015/2016.
The next card up their sleeve is the upcoming general elections, the board is betting on the ongoing political activities to recover hundreds of millions since those aspiring for various seats must first clear their loans and obtain a certificate indicating the same before they can be given the green light to contest.
Kenyans have been urged to take advantage of the waiver and clear their debt and in the same light also be responsible Kenyans by allowing their fellow brothers and sisters get a chance to get their education as well.
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