The higher education loans board (HELB) has issued another warning to all students who have completed campus and have not started paying their loans. In sms sent to all loan beneficiaries HELB indicates.
“HELB loan arrears. Pay atleast Ksh. 5,000 by 30th October to avoid penalties.” The message has sent panic to jobless graduates and those yet to graduate. Isaac one of the HELB beneficiaries who received the message spoke to Kenyayote “I graduated two months ago and helb wants me to start paying. Where do i get 5,000 from??”
Section 15 of the HELB Act says that Undergraduate HELB Loan repayment begins within one year of completion of studies. Some part of the act which however many graduates do not understand is the one which indicates that HELB can decide on whichever time you should start paying your loans.
Any graduates who violates the above stated acts risk being blacklisted with the Credit Reference Bureau(CRB) which means you cannot get any loan from any bank in Kenya or any entity offering loans in Kenya.
Pay your HELB loan now through MPESA to avoid penalties.