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HELB resorts to using debt collectors to recover loans from graduates

HELB resorts to using debt collectors in a bid to recover loans from university graduates.

In a bid to recoup the billions in arrears, the Higher Education Loans Board (HELB) has turned to debt collectors.

The board asked interested, respectable companies with extensive experience to apply for debt collection services in a notice to the media.

It was advised that potential bidders visit the procurement office on the 18th floor of Anniversary Towers during regular business hours to obtain further information and inspect the tender documents.

In addition, they were urged to view and download the respective detailed tender adverts and tender documents from the helb website

Interested applicants ought to notify HELB of their participation in the tender process by emailing their contact details to their official email address in case of any further addendum.

“All bidders interested in participating in the tender must notify HELB of their participation in the tender by emailing their contact details to procurement@helb.co.ke in case of any further addendum,” read part of the notice.

The closing date is set for Wednesday, November 9, 2022, at 11 am. 

In September 2022, HELB revealed that the number of former university students who had defaulted on loans had dropped by 20 percent in the past six months. 

This led to a drop from Ksh10.2 billion to Ksh8.4 billion. 

“Some 87,391 accounts holding a total of Ksh8.4 billion are in default, while 235,833 loan accounts valued at Ksh36.3 billion are in repayment,” HELB revealed in a statement. 

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