Kenyans with HELB loans can breathe easier after the institution extended the deadline for the Covid-19 penalty waiver.
The 100 per cent penalty waiver was supposed to end on April 30 but has been extended to June 30.
Higher Educations Loans Board (HELB) CEO Charles Ringera said Kenya’s economy had slowed down due to the pandemic.
“We acknowledge that unemployment and underemployment and the challenging environment for loanees to start and run businesses has affected loan repayment,” Ringera said in a press release.
Ringera also acknowledged that the board had been faced with funding challenges.
“This, coupled with inadequate funding from the exchequer (National Treasury) has inadvertently created a funding challenge for students seeking HELB loans,” he added.
He said the waiver coincided with back to school hence the need to extend the deadline.
The institution has previously offered waivers in 2013 and 2018.