NAIROBI, Kenya – If you’ve been dodging your HELB loan repayment, now might be the time to settle up—at a massive discount.
The Higher Education Loans Board (HELB) has announced an 80pc waiver on accrued penalties for defaulters willing to clear their outstanding balances in a lump sum.
The latest incentive, revealed on Monday, March 24, follows a series of similar waivers aimed at encouraging loanees to clear their debts. But here’s the catch—HELB hasn’t specified how long this offer will last.
Take advantage of the 80% penalty waiver while it lasts! Call 0711 052 000, email contactcentre@helb.co.ke, or slide into our DMs to get started.
A Limited-Time Deal to Ease Student Loan Debt
In a brief but compelling statement, HELB urged defaulters to take advantage of the waiver through its various communication channels.
“Settle your HELB Loan in a lump sum and enjoy an 80pc waiver on accrued penalties. Simple, rewarding, and just a call, DM, or email away!” the board announced.
This latest move follows HELB’s previous 100pc penalty waiver in 2022, which ran from March to April and was later extended to June due to the economic hardships caused by the COVID-19 pandemic.
During that period, thousands of defaulters took advantage of the full waiver to clear their loans.
But this isn’t a new strategy. HELB has been rolling out similar penalty waivers over the years to encourage repayment, including a 2018 campaign that also offered 100pc relief on accrued penalties.
HELB Announces 80% Penalty Waiver for Defaulters Opting Lump Sum RepaymentThe Higher Education Loans Board (HELB) has rolled out a fresh incentive for loan defaulters, offering an 80 percent waiver on accrued penalties to individuals who settle their outstanding balances in a
Why HELB Keeps Offering These Waivers
So, why does HELB keep returning to this playbook? The short answer: compliance and cash flow.
According to HELB CEO Charles Ringera, economic challenges—including unemployment and underemployment—have made it difficult for many graduates to meet their repayment plans.
“Due to the COVID-19 pandemic, Kenya, like many other countries globally, has experienced a slowing down of the economy over the last two years,” a previous HELB statement noted.
Ringera also acknowledged that many loanees struggle to launch businesses or find stable jobs, further complicating repayment efforts.
By offering temporary waivers, HELB hopes to recover some of the outstanding debts while giving defaulters a much-needed lifeline.
HELB hasn’t revealed when the 80pc waiver will expire, leaving many wondering whether they should rush to clear their loans or wait for an even bigger discount down the road.
