The Higher Education Loans Board (HELB) on Wednesday, May 4, announced an extension of the 100% Covid-19 penalty waiver.
The waiver dubbed, 'Kamilisha Malipo Ya HELB', was initially scheduled to run from 1st March 2022 to 30th April 2022 but has now been extended to June 30, 2022.
While making the announcement, HELB CEO Charles Ringera highlighted the hard economic times being experienced by loanees to access loans to start and run businesses.
“Due to the Covid-19 Pandemic, Kenya just like many other countries globally, has experienced a slowing down of the economy over the last 2 years. We acknowledge that unemployment and underemployment as well as a challenging environment for loanees to start and run businesses, has affected HELB loan repayment.
"This, coupled with inadequate funding from the Exchequer [The National Treasury], has inadvertently created a funding challenge for students seeking HELB Loans," Mr. Ringera stated.
HELB also noted that they had received numerous requests to extend the waiver by loan beneficiaries.