The Higher Education Loans Board (HELB) has officially announced a 100 per cent Covid-19 penalty waiver campaign.
In a statement on March 1, 2022, HELB noted that many Kenyans were economically affected by the Covid-19 pandemic, citing the unemployment rate in the country.
"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.
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"This, coupled with inadequate funding from the Exchequer (The National Treasury), has inadvertently created a funding challenge for students seeking HELB Loans," the statement read in part.
HELB noted 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," the statement reads.
“It is important for all beneficiaries to honour their obligation as stipulated in the loan application terms & conditions so as to empower the dreams of another needy student," HELB CEO Charles Ringera reiterated.
HELB has previously offered 100% Penalty Waiver Campaigns in 2013 where 10,110 beneficiaries paid off their loans valued at Ksh1.3 billion and in 2018 where 9,998 beneficiaries paid off their loans valued at Ksh870 million.
