DP Ruto promises to abolish interest on HELB loans
By Joshua Cheloti
Deputy President William Ruto is promising to overhaul the Higher Education Loans Board (HELB) should he be elected president in the upcoming general election.
Speaking during a Kenya Kwanza tour in Kitui, the DP named removing interest on loans given to students as one of the areas he will seek to address.
He also said under his leadership, funds from HELB will be disbursed to students on time, unlike the current situation.
The government charges an interest of 4 percent per annum for the Helb loans.
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DP William Ruto addresses members of the public in Kitui on Tuesday, March 29, 2022. |Courtesy| DP Ruto Twitter|[/caption]
“On the Helb money, first we want to remove the interest. There should be no interest in money given to students as loans. Secondly, the money is so little. It should be increased so that a student gets sufficient money to support his upkeep,” said Ruto in a video that is doing rounds on social media.
The DP who is seeking to succeed President Uhuru Kenyatta in the August 9 poll under the Kenya Kwanza Alliance further said Helb loans should be disbursed on time.
“We will make sure nobody is listed by the Credit Reference Bureau (CRB) because of Helb. That money should come on time, not delayed to leave students with nothing in their pockets,” he said.
Ruto is also promising to consider transforming the loan into a grant in the future, especially for the needy.
“In the future, we will make part of Helb loan to be a grant and not a loan, especially for the needy children,” he said.
Established in July 1995 by an Act of Parliament - ‘Higher Education Loans Board Act’ Cap 213, the Higher Education Loans Board (HELB) is a state corporation in the Ministry of Education.
The Board provides loans to students across the country pursuing higher education – both at mid-level colleges and universities.
It funds needy students to the tune of between Sh35,000 and Sh60,000 per year, based on their economic background.
DP William Ruto addresses members of the public in Kitui on Tuesday, March 29, 2022. |Courtesy| DP Ruto Twitter|[/caption]
“On the Helb money, first we want to remove the interest. There should be no interest in money given to students as loans. Secondly, the money is so little. It should be increased so that a student gets sufficient money to support his upkeep,” said Ruto in a video that is doing rounds on social media.
The DP who is seeking to succeed President Uhuru Kenyatta in the August 9 poll under the Kenya Kwanza Alliance further said Helb loans should be disbursed on time.
“We will make sure nobody is listed by the Credit Reference Bureau (CRB) because of Helb. That money should come on time, not delayed to leave students with nothing in their pockets,” he said.
Ruto is also promising to consider transforming the loan into a grant in the future, especially for the needy.
“In the future, we will make part of Helb loan to be a grant and not a loan, especially for the needy children,” he said.
Established in July 1995 by an Act of Parliament - ‘Higher Education Loans Board Act’ Cap 213, the Higher Education Loans Board (HELB) is a state corporation in the Ministry of Education.
The Board provides loans to students across the country pursuing higher education – both at mid-level colleges and universities.
It funds needy students to the tune of between Sh35,000 and Sh60,000 per year, based on their economic background. What's Your Reaction?
