HELB Announces 100% Penalty Waiver

It is good news for defaulters as the Higher Education Loans Board (HELB) has announced a 100 per cent penalty waiver for the months of March and April.

The Loans Board sited that many people had defaulted to repay their loans due to financial constrains brought by the Covid- 19 Pandemic.

HELB also encouraged those who have not yet started to repay the loan to do so in lumpsum. The move was taken to encourage more defaulters to come out and repay their loans, so as to help other students in collages and universities who are in need of financial assistance. The body has not received much from the National Treasury, creating a challenge for students seeking the HELB loans.

The penalty waiver will run from March 1st to April 30th, 2022.