Beneficiaries of the Higher Education Loans Board (Helb) loans have received a shot in the arm following the announcement of a 100 percent waiver on penalties.
The full penalty waiver applies to loanees who are still paying their HELB loans or those who haven’t started repaying.
Dubbed ‘KamilishaMalipoyaHelb’, the 100 percent Covid-19 penalty waiver will be effective from March 1 to April 30.
Helb chief executive officer Charles Ringera observed Kenya has experienced a slowing down of the economy in the past two years due to the Covid-19 pandemic.
“HELB appreciates the fact owing to the prevailing economic situation, the loan beneficiaries’ repayment ability may take some time to stabilize,” Ringera said.
“HELB therefore wishes to announce a 100% Covid-19 Penalty waiver dubbed #KamilishaMalipoYaHELB from March 1, 2022, to April 30, 2022, to loanees as an appreciation of their commitment to repay their loans, even with the effects of the Covid-19 pandemic, as well as to encourage, the loanees who haven’t started repaying to do so and repay in lump sum,” he added.
Ringera also urged those who have not started paying off their loans to start making payments this year.
“It is important for all beneficiaries to honor their obligation as stipulated in the loan application terms and conditions so as to empower the dreams of another needy student,” he said.