Good News To HELB Beneficiaries As They Get A Penalty Waiver
The HELB CEO, Charles Ringera, has announced a 100 percent penalty waiver following the heavy impact COVID-19 brought on everyone over the last two years.
Lydia Kadima 
This penalty waiver announcement is due to the significant negative impacts of the covid pandemic on the Kenyan economy. The leading reason for the penalty waiver is to motivate people to pay off their debts to support the educational needs of other learners who also need money.
The full waiver will be in effect for the next sixty days from today throughout March and April, where they will not have to pay the extra monthly charge for defaulting the loan.
The penalty waiver applies to those yet to start repaying the HELB loan to those already clearing the loan. The relief is good news to all Kenyans who have been burdened with clearing up the continually rising debt they had taken to facilitate their tertiary studies.
The covid pandemic made the country and its citizens face financial challenges due to lack of employment and decrease in income. The lending institutions also faced huge financial challenges making it difficult to disburse funds to students on time.
HELB also offered similar waivers in 2013 and 2018, enabling many people to pay up their debt, and in both years, HELB recorded vast amounts of settled debts.
