Kenya’s Higher Education Loans Board (HELB) has released a statement on Sunday giving loan defaulters 30 days to repay the loans or face being embarrassed on newspapers.
In the statement, HELB says that it will publish the names and respective images of the loan defaulters in the leading newspapers if the defaulters don’t come forth in the next 30 days to explain how they’ll pay off their loan.
Please take note that the names and pictures of HELB loan beneficiaries who have defaulted repayment of the loan from 1975 to date shall be published in leading newspapers after expiry of 30 days from the date of the notice…Higher Education Loans Board
The money is supposed to be used to support the current students who need the money to finance their higher education fees.
…some beneficiaries who are in default have not responded to previous communication addressed to them yet the funds received from loan repayment are used to support the current needy students therefore sustained default hinders funding of other deserving Kenyan youth.Higher Education Loans Board
It is reported that by 2018, 85000 loan defaulters owed money to HELB which totals up to Ksh 50 billion.
Read More: KCPE Results To Be Released Today