HELB, higher education loans board, has supported the dreams of over 927,610 students whose loan accounts are valued at over Kshs.108B. 492,227 of these accounts have matured and are valued at Kshs.58.5B while the rest of the 435,383 accounts, holding Kshs.49.5B have not yet matured.
(As at 30th September 2019)
Late last year (2019) HELB announced that action will be taken against HELB loan defaulters. This stirred mixed reactions among Kenyans who claimed that many were unable to pay due to their unemployment status.
According to HELB, there are two groups of loan beneficiaries who completed their university education between 1975 and 2009 that HELB believes are in a position to repay their loans but may have chosen to ignore the compliance message or even negotiate on more flexible payment plans. Their accounts hold a total of Kshs.6.82B. Here is an analysis of the percentage of defaulters in each cluster.
