Kenyans online have elicited mixed reactions after The Higher Education Loans Board (HELB) announced a shocking news to those who have not paid their HELB loan. HELB communication director, Wavi Muigai said that are having plans to ensure the loans are paid. Those who have not paid, will be listed on CRB and the penalties will be Ksh5,000 every month.
If one defaults for 6 months consecutively without paying, he/she will be added to the CRB list. The penalties will take effect a year after one graduates. So far, they are over 85,000 total loaness who have not paid their loan since HELB establishment in 1995.
HELB CEO Charles Ringers said that the unpaid loans amounts to Ksh9.5 Billion. So far, over Ksh200 Million have been recovered. HELB said that number of defaulters increased after Covid-19 pandemic hit the country. Kenyans wondered how this loans will be paid if the graduates are jobless.
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