Students may soon receive their Higher Education Loans Board (HELB) funds via mobile phones in a new push for digitization and convenience.
Inside HELB's plan to start sending money on phone
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The Loans Board has put up an advertisement inviting telecommunications companies to express interest in providing the mobile money transfer infrastructure.
HELB CEO Charles Ringera further outlined that the mobile component will assist the Board in debt collection.
"The board wishes to explore the option of a mobile smart payment solution for the disbursement of student loans, bursaries and scholarships to institutions of higher learning.
"The board invites interested telcos to submit their Expression of Interest for the provision of the mobile smart payment solution," HELB's notice read in part.
HELB has in the recent past attempted to compel defaulters to repay their student loans through unconventional means.
The most recent attempt involved an announcement warning defaulters that their photos would be published in local dailies.
"Please take not that the names and pictures of HELB loan beneficiaries who have defaulted repayment of the loan from 1975 to date shall be published in the leading newspapers after expiry of 30 days from the date of this notice and thereafter legal action may ensue against each defaulter as stipulated in the HELB act," the notice read in part.
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