UNEMPLOYED GRADUATES

MP’s proposal to reduce Helb rates will ease repayment

Many beneficiaries who have graduated are unemployed hence in financial crisis

In Summary

• Board had vowed to publicly shame defaulters, a move which was faced with criticism from the thousands of unemployed youth.  

• MP proposed rates be reduced from 4% to 2%. 

Technical University of Kenya students protest against delayed Helb loans.
MORE BENEFICIARIES: Technical University of Kenya students protest against delayed Helb loans.
Image: COURTESY

Students in colleges and universities benefit from the Higher Education Loans Board which gives yearly loans to help with their education and upkeep.

Helb officers face a crisis after completion of many beneficiaries who are reluctant to pay their loans, forcing the officers to try different measures to reach them.

Recently, the board had vowed to publicly shame defaulters, a move which was faced with criticism from the thousands of unemployed youth. 

The proposal by one MP that the interest rate is reduced from four per cent to two per cent can be of help in reducing the burden on the youths and helping the board collect something monthly to be able to disburse more loans to other needy students. 

Many students who left school after completion are unemployed, therefore, in a financial crisis. It's the high time Helb formulated new policies to create jobs which will help reduce the number of defaulters. 

 

Maseno