HELB Offering Penalty Amnesty to University Loan Defaulters from May 6 – June 6, 2013

The Higher Education Loans Board (HELB) would like to state that in accordance with the HELB ACT 1995, SECTION 15 (1) and (2) a penalty of Kshs.5,000= has been levied for each month or part of the month that has remained unpaid since maturity of the loan.

Accounts that are currently not active regardless of previous partial payments also attract the penalty.

1. This is to notify the general public and in particular all University Loanees that;
2. The Board shall waive all penalties for any individual loanee who will pay his/her outstanding loan in lump sum.
3. The amnesty shall run from 6th May to 6th June 2013.
4. The amnesty is aimed at giving University Loanees an opportunity to pay any outstanding loan balances due to the Board.
5. Loanees may check their outstanding balances via HELB's website:www.helb.co.ke

The Board wishes to request the Loanees to take advantage of the amnesty.

A certificate of clearance will be issued thereafter