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Wednesday, May 19, 2021 – The Higher Education Loans Board (HELB) has put 85,000 Kenyans on notice as they stand to get listed on the Credit Reference Bureau (CRB) if they fail to pay their loans.
Speaking at a conference on Wednesday, HELB CEO Charles Ringera noted that the unpaid loans amounted to Ksh 9.5 billion.
HELB Communications Director, Wavi Muigai, noted that plans are in place to ensure the defaulters pay.
“They will be listed on CRB, and there are penalties, Ksh5,000 a month according to the HELB Act. People pay monthly and we keep tabs of those who pay every day,” Muigai stated.
She also clarified that penalties are enacted a year after one graduates.”
“If the loanee defaults for six months consecutively, they are added on the CRB list.”
“We primarily don’t wait for a particular time because people graduate at different times,” Muigai stated.
This comes even as many graduates who took the HELB loans have been rendered jobless thanks to Covid-19 which has turned the world upside down.
The Kenyan DAILY POST