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HELB ANNOUNCES A 100% COVID-19 PENALTY WAIVER

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HELB ANNOUNCES A 100% COVID-19 PENALTY WAIVER

Nairobi, 1st March 2022. The Higher Education Loans Board [HELB] has today, officially announced a 100% Covid-19 Penalty Waiver Campaign.

Due to the Covid-19 Pandemic, Kenya just like many other countries globally, has experienced a slowing down of the economy over the last 2 years. The unemployment and underemployment as well as a challenging environment for loanees to start and run businesses, has affected HELB loan repayment. This, coupled with inadequate funding from the Exchequer [The National Treasury], has inadvertently created a funding challenge for students seeking HELB Loans.

HELB appreciates the fact that owing to the prevailing economic situation, the loan beneficiaries’ repayment ability may take some time to stabilize.

HELB therefore wishes to announce a 100% Covid-19 Penalty Waiver dubbed #KamilishaMalipoYaHELB from 1st March 2022 to 30th April 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 lumpsum.

In releasing this announcement, HELB CEO Charles Ringera, reiterated that, “It is important for all beneficiaries to honor their obligation as stipulated in the loan application terms & conditions so as to empower the dreams of another needy student.”

HELB has previously offered 100% Penalty Waiver Campaigns in 2013 where 10,110 beneficiaries paid off their loans valued at Kshs 1.3B and in 2018 where 9,998 beneficiaries paid off their loans valued at Kshs 870M.  

CPA Charles Ringera,

HELB CEO

About Higher Education Loans Board

The Higher Education Loans Board (HELB) is a state body established by an Act of Parliament – CAP 213A in 1995 mandated to provide loans, bursaries and scholarships to Kenyans pursuing higher education in recognized Kenyan Universities and Colleges and to recover the same after completion of studies to facilitate establishment of a revolving fund. The Board is therefore well aligned to Chapter 4, Section 43 (1) (f) of the Constitution of Kenya 2010, that every person has the right to education.

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For any media queries or interview requests, contact Ms. Wavi Mungala, Head of Corporate Communication & Customer Experience on wmungala@helb.co.ke

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