For University students who were used to receiving HELB loan two weeks before reporting to campus, this has been a semester with a difference. Many students have been waking everyday with the hope that HELB loan will one day be disbursed but the hope is slowly dying. For some, a semester has gone down without getting HELB loan. For some, HELB loan has reflected in their bank accounts but it has been slashed.
Find below the only message that was posted by HELB to keep the hopes of waiting students a live;
September 10, 2014: Loan Delay
“We would like to inform the continuing students who opened in August that the Board is facing some cash flow challenges and thus causing delay in releasing of funds. However we are working with the universities to allow registration of students using the tuition fee payment schedule prepared by HELB. Kindly bear with us as we mitigate the situation…….we are mobilizing resources to ensure that disbursement of funds are not delayed in future”
Despite money not being disbursed to bank accounts, some students who communicated to kenyayote indicate that their HELB loan disbursement status for academic year 2014/2015 has been reduced by 7.5% for those receiving ksh. 40,000. This means that students will be able to receive ksh. 3,000 less of their HELB loans.
What might have befallen HELB? HELB CEO-Ringera has a lot to explain to comrades.