HELB University loan penalty waiver

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The Higher Education Loans Board (HELB) is enticing loan beneficiaries with a 80 percent waiver on penalties for individuals who pay their outstanding loan in lump sum.

HELB says the waiver is aimed at giving loan beneficiaries an “opportunity to pay any outstanding loan balances due to the Board so that they are compliant to the various State laws and regulations.” According to HELB ACT 1995, section 15 (1) and (2), a penalty of Sh5,000 will be levied for each month that has remained unpaid since maturity of the loan.
The waiver is valid until 30^th May 2014.