HELB Announces Major Penalty Waiver for Loan Defaulters
HELB recovered Ksh5.21 billion and traced over 17,000 defaulters, yet over 380,000 former students still owe over Ksh40 billion...
✨ Key Highlights
The Higher Education Loans Board (HELB) is offering a significant incentive for loan defaulters, announcing an 80% waiver on penalties for those who fully settle their outstanding student loan balances.
- Over 380,000 beneficiaries have defaulted on student loans, collectively owing nearly Ksh42 billion.
- This initiative provides a chance for borrowers to clear their debt and avoid penalties exceeding Ksh5,000 per month per missed installment.
- Borrowers can repay through the USSD code *642#, the HELB Mobile App, or the Loanee Self-Serve Portal at www.hef.co.ke.
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