Board announces COVID-19 penalty waiver on student loans

Kenya’s Higher Education Loans Board (HELB) has announced a 100% COVID-19 penalty waiver on student loans, writes Tracey Eboko for Capital FM.

According to the board’s Chief Executive Officer Charles Ringera, the action was due to the slowing economy in the country within the last two years.

He said unemployment and underemployment as well as a challenging environment for loanees to start and run businesses, has affected HELB loan repayment. He indicated that this, coupled with inadequate funding from the Exchequer (the National Treasury), has inadvertently created a funding challenge for students seeking HELB loans.
Full report on the Capital FM site