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Thursday, May 23, 2024

Helb issues a penalty waiver for all beneficiaries

HELB CEO Charles Ringera (Courtesy)

Higher Education Loans Board has announced a 100 per cent loan waiver to students.

According to the boards Chief Executive Officer Charles Ringera cited that the move has been made as a compensation for the economic challenge faced during Covid-19 pandemic.

“Helb appreciates the fact owing to the prevailing economic situation, the loan beneficiaries, repayment ability may take some time to stabalize,” Ringera said.

He further urged those who have not started paying off their loans to start making payments.

The waiver will be effective from March 1 to April 30.

“It is important for all beneficiaries to honour their obligation as stipulated in the loan application terms and conditions so as to empower the dreams of another needy student,” Ringera said.

He further stated that unemployment and underemployment as well as a challenging environment for loans to start and run businesses, has affected HELB Loan repayment.

Helb has previously offered 100 per cent waiver campaigns in 2013 totalling up to Sh1.3billion and in 2018, 9998 beneficiaries paid off their loans valued at Sh870 billion.

Shillah Magret
Shillah Magrethttps://lenyaxmedia.co.ke
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