How HELB Penalty Waiver Works

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How HELB Penalty Waiver Works

How HELB Penalty Waiver Works – Read full details below:

The Helb Announces A 100% Covid-19 Penalty Waiver

Nairobi, 1st March 2022. The Higher Education Loans Board [HELB] has today, officially announced a 100% Covid-19 Penalty Waiver Campaign. 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 …

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Nairobi, 1st March 2022. The Higher Education Loans Board [HELB] has today, officially announced a 100% Covid-19 Penalty Waiver Campaign.

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. This, coupled with inadequate funding from the Exchequer [The National Treasury], has inadvertently created a funding challenge for students seeking HELB Loans.

HELB appreciates the fact 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.

In releasing this announcement, HELB CEO Charles Ringera, reiterated that, “It is important for all beneficiaries to honor their obligation as stipulated in the loan application terms & conditions so as to empower the dreams of another needy student.”

HELB has previously offered 100% Penalty Waiver Campaigns in 2013 where 10,110 beneficiaries paid off their loans valued at Kshs 1.3B and in 2018 where 9,998 beneficiaries paid off their loans valued at Kshs 870M. 

CPA Charles Ringera,

HELB CEO

Deadline Extension: 100% Covid-19 Penalty Waiver

Nairobi, 4th May 2022. The Higher Education Loans Board [HELB] has today, officially announced an extension of the 100% Covid-19 Penalty Waiver. The waiver, dubbed #KamilishaMalipoYaHELB initially scheduled to run from 1st March 2022 to 30th April 2022, has now been extended to 30th June 2022.

In releasing this announcement, HELB CEO CPA Charles Ringera said, “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. We acknowledge that unemployment and underemployment as well as a challenging environment for loanees to start and run businesses, has affected HELB loan repayment. This, coupled with inadequate funding from the Exchequer [The National Treasury], has inadvertently created a funding challenge for students seeking HELB Loans.

In addition to the prevailing tough economic environment, the initial end of the Penalty Waiver, 30th April 2022, also coincided with the back-to-school season. HELB therefore received numerous requests to extend the waiver to allow loan beneficiaries’ additional time to take advantage of the Penalty Waiver. It is with this in mind that, HELB wishes to announce an extension of the 100% Covid-19 Penalty Waiver dubbed #KamilishaMalipoYaHELB to 30th June 2022 to loanees as an appreciation of their commitment to repay their loans as well as encourage the loanees who haven’t started repaying to do so and repay in lumpsum.

We wish to sincerely thank the loanees who have since responded to our Covid-19 Penalty Waiver Campaign and have repaid their loans in full. We also take this opportunity to remind all beneficiaries to honor their repayment obligations as stipulated in the loan application terms & conditions to enable us to empower the dreams of the 75,000 students who are at risk of not being funded this year,” said Mr. Ringera.

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CPA Charles Ringera,

HELB CEO.

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