HELB Beneficiaries Asked To Settle Outstanding Balances As Number Of Needy Cases Grow
Principal Secretary, State Department for University Education and Research, Ambassador Simon Nabukwesi has urged Higher Education Loans Board (HELB) beneficiaries to settle their outstanding loan balances in order for the fund to keep up with the growing number of needy cases.
He claimed that defaulters owed the board billions of shillings, an amount he claimed was sufficient to ensure the fund acquired the capacity to sustain it and support many more students enrolling in universities.
“Funding of students in need of loans is as low as 57 per cent of their need and not a 100 per cent as it was at the start,” the PS noted, adding that the imbalance was caused by reduced exchequer allocation that was not proportionate to the rising number of needy cases.
Meanwhile, Nabukwesi challenged universities to be innovative in developing new revenue streams as well as cost-cutting measures in order to stay financially afloat in the face of exchequer budget cuts.
Principal Secretary, State Department for University Education and Research, Ambassador Simon Nabukwesi
He praised Embu University for its prudent use of funds, which allowed it to build a 660-seat lecture theatre to supplement what the government is doing, as well as install solar panels in the administration building, which allowed it to save Sh125, 000 per month on power bills.
This comes as HELB officially announced the extension of the 100% Covid-19 Penalty Waiver to 30 June 2022.
ALSO READ:
In making the announcement, HELB CEO Charles Ringera stated that due to the Covid-19 Pandemic, Kenya, like many other countries around the world, has seen a slowing of the economy over the last two years
“We wish to sincerely thank the loanees who have since responded to our Covid-19 Penalty Waiver Campaign and have repaid their loans in full.“ Said Ringera.
HELB Beneficiaries Asked To Settle Outstanding Balances As Number Of Needy Cases Grow
