Helb to name and shame student loan defaulters

Higher Education Loans Board (Helb) says it is going to name and shame 85,000 Kenyans who have failed to repay the loan in 30 days.

Helb, which has been smoking out defaulters in every possible hideout, says it will also publish photos of the men and women who have failed to repay their loans, now standing at Sh50 billion.

In a statement on Sunday, the board said defaulters will have 30 days to come forward and explain how they will repay the loans.

The national higher education financier says it requires the cash to help other poor Kenyans realise their dream of acquiring degrees and diplomas.

Helb said some of the beneficiaries in default have not responded to previous communication, therefore hindering financial support to other deserving Kenyans.

“The names and pictures will be published after the expiry of 30 days from the date of the notice and therefore legal action may be taken against each defaulter,” added the statement.

The board has now asked beneficiaries who are not servicing their loans are to get in touch with it for particulars of their loan account.

Last year, Helb recovered more than Sh500 million following a two-month amnesty that was issued by the government.

According to Helb, it cannot trace 17,000 defaulters, while by last year 85,000 loan defaulters were owing the agency.

A total of 169,909 graduates had fully repaid their loans worth Sh13.2 billion by September 2017, while some 136,783 beneficiaries were servicing loans worth Sh20.7 billion.

Since 1974, the university loan scheme has supported over 645,000 Kenyans to pursue higher education at a total cost of Sh72 billion.

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