The Government has announced 100 per cent waiver on Higher Education Loans Board (HELB) defaulters
Education Cabinet Secretary Amina Mohamed has however said the waiver is only applicable between May 3 and June 30, 2018.
“As an incentive,to all past helb beneficiaries, i hereby announce a 100 percent penalty waiver to all the defaulters who must repay their loans in one lumpsum between today 3rd of May to the 30th of June,” she said.
She further directed that all universities adopt the HELB smart card system that will enable them to easily monitor repayment of loans disbursed to students.
“This will accelerate the remittance process and remove the physical contact of university deans with student ledgers which often causes delay.
“The smart card which is already in use in KeMU (Kenya Methodist University), Masai Mara and Pwani universities will give students the responsibility to pay fees from the tuition e-wallet which is locked by a special system for that purpose only,” the Education CS said.
Speaking during the HELB employers forum on Thursday, Amb. Mohamed also revealed that the loans Board will now be known as the Tertiary Education Funding Corporation.
She also presided over the launch of the institution’s employers portal, a website that will be used to upload employees payment information online.
Through the portal, employers will also be expected to regularly check that their workers are compliant with the Board’s regulations.
HELB however maintains that repayments are not enough to fully fund higher education and this is why they are also seeking funds from external sources.