By Allan Kibet
Higher Education Loans Board (HELB) has on May 4 announced the extension of 100% Covid-19 penalty waiver to June 30.
In a press release document signed by HELB CEO, Charles Ringera, the waiver running under the campaign dubbed #KamilishaMalipoYaHELB kick-started on March 1 and was to end in April 30 this year.
“Due to the Covid-19 pandemic, Kenya just like many other countries globally, has experienced a slowing down economy over the last two years. We acknowledge that unemployment and underemployment as well as a changing environment for loanees to start and run business, has affected HELB loan repayment.
“Inadequate funding from the Exchequer has inadvertently created a funding challenge for students seeking HELB loans,” said Ringera.
The CEO head said that the body received request for an extension of the period as the initial timeline coincided with the back to school season where loanees had other priorities like paying school fees for their children.
The move, the CEO adds, is a way of appreciating the loanees’ commitment to repay loans as well as to encourage those who have not started making repayments to do so in lumpsum.
“We wish to sincerely thank the loanees who have since responded to our Covid-19 Penalty Waiver Campaign and have repaid their bonus in full.
“We also take the opportunity to remind all beneficiaries to honor their repayment obligations,” urged the CEO.
HELB is a Kenyan state body charged to provide students, especially in Tertiary institutions with loans, bursaries and scholarships.
The body was established in July of 1995 through an Act of Parliament.
