Nairobi, 4th May 2022. The Higher Education Loans Board [HELB] has today, officially announced an extension of the 100% Covid-19 Penalty Waiver. The waiver, dubbed #KamilishaMalipoYaHELB initially scheduled to run from 1st March 2022 to 30th April 2022, has now been extended to 30th June 2022.
In releasing this announcement, HELB CEO CPA Charles Ringera said, “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. We acknowledge that 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.”
In addition to the prevailing tough economic environment, the initial end of the Penalty Waiver, 30th April 2022, also coincided with the back-to-school season. HELB therefore received numerous requests to extend the waiver to allow loan beneficiaries’ additional time to take advantage of the Penalty Waiver. It is with this in mind that, HELB wishes to announce an extension of the 100% Covid-19 Penalty Waiver dubbed #KamilishaMalipoYaHELB to 30th June 2022 to loanees as an appreciation of their commitment to repay their loans as well as encourage the loanees who haven’t started repaying to do so and repay in lumpsum.
“We wish to sincerely thank the loanees who have since responded to our Covid-19 Penalty Waiver Campaign and have repaid their loans in full. We also take this opportunity to remind all beneficiaries to honor their repayment obligations as stipulated in the loan application terms & conditions to enable us to empower the dreams of the 75,000 students who are at risk of not being funded this year,” said Mr. Ringera.
CPA Charles Ringera,