Gov't Extends 100 Percent Waiver on Penalties for HELB Defaulters

The government has announced a one-month extension of the 100 per cent waiver on penalties for Higher Education Loans Board (HELB) defaulters.

The extension comes after HELB netted more than Sh500 million in the two-month waiver period that ended on June 30th. Education Cabinet Secretary Amina Mohamed said more beneficiaries have expressed willingness to repay their loans, hence the extension.

“Based on enthusiasm that most loanees have shown it’s imperative that we extend the repayment period so that we give them an opportunity to repay,” said the CS in a statement.

HELB Chief Executive Officer Charles Ringera said the agency received Sh508 million from 9,112 loanees during the amnesty period which started on May 3rd and ended on June 30th.

“A total of 5,881 loanees are holding Sh971 million and have expressed willingness to repay in lump sum but they have been unsuccessful in their quest to beat the set deadline,” said Ringera in a letter to CS Amina Mohamed dated June 29th.

Ringera said the agency has not been able to trace 17,000 defaulters, who now owe HELB a total of Sh9.6 billion.