HELB Defaulters Get Major Reprieve with New 80% Waiver Offer
he Higher Education Loans Board (HELB) has unveiled a significant opportunity for loan defaulters. An 80% waiver on accrued penalties is now available for those who settle their debts in a lump sum.
This move aims to encourage repayment and alleviate the financial burden on many Kenyans.
HELB announced this waiver on Monday, March 24th, urging beneficiaries to contact them through their official channels.
The board emphasizes the simplicity and reward of this offer, accessible via call, direct message, or email. However, HELB has not specified an end date for this substantial waiver.
This isn’t the first time HELB has offered such incentives. In March 2022, they provided a 100% penalty waiver following the Covid-19 pandemic’s economic impact. Initially set to end in April, the waiver was extended to June 2022 as a gesture of goodwill.
HELB’s Chief Executive Officer, Charles Ringera, explained that the waiver acknowledged the economic hardships faced by loan recipients during the pandemic. “The global pandemic slowed down Kenya’s economy,” he stated, recognizing the effects on employment and business opportunities.
Similar to the 2022 initiative, a 100% penalty waiver was also offered in 2018. These periodic waivers are designed to improve compliance among thousands of graduates who have fallen behind on their repayment schedules.
This new 80% waiver presents a crucial chance for many to clear their debts and start afresh. HELB hopes this will encourage those who have long neglected their loans to finally take action.
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HELB Defaulters Get Major Reprieve with New 80% Waiver Offer
