On March 1st the Higher Education Loans Board(HELB) announced a 100% covid-19 penalty waiver on students loans. This waiver will be applied to Kenyans who are still paying or have not started paying their student loan.
Charles Ringera, CEO of Higher Education Loans Board said,” post-covid consequences took a toll on the company prompting the decision to waiver penalty.”
“All recipients must fulfill their obligations as outlined in the loan application terms and circumstances so that another deserving student’s ambitions can be realized,” Ringera said in a statement.
The KamilishaMalipoyaHelb penalty waiver will be in effect from March 1 through April 30.
Waivers were previously available through HELB in 2013 and 2018.
In 2013, the board received a payment of Sh1.3 billion over two years. In 2018, a total of 9,998 recipients paid back loans totaling Sh870 million.
Ringera asked people who had not yet begun repaying their debts to do so this year.