HELB to engage police to track loan defaulters
The Higher Education Loans Board (HELB) announced on Friday, May 30, plans to engage police officers in tracking loan defaulters and other beneficiaries.
The Higher Education Loans Board (HELB) announced on Friday, May 30, plans to engage police officers in tracking loan defaulters and other beneficiaries.
HELB CEO Geoffrey Monari, while appearing before the National Assembly’s Public Investments Committee on Governance and Education, outlined a strategy aimed at strengthening the Board’s finances through enhanced loan recovery efforts.
Monari also mentioned that the board is finalising a partnership with law enforcement agencies to trace graduates, both locally and abroad, who are employed but have failed to start repaying their loans.
“This is not just about finance. It’s about fostering a sense of responsibility and patriotism among those who have benefited from the funds. Compliance ensures we can support future generations from needy backgrounds,” he stated.
In his presentation to the Members of Parliament, he stated that the Board’s portfolio faces risks due to defaulters among past beneficiaries.
“At the heart of HELB’s operations is the philosophy of the revolving fund – recovering loans to re-lend to aspiring students. However, the defaulter rates continue to erode the fund’s sustainability,” he added.
The committee members, however, challenged HELB to intensify efforts in community outreach through advertising, showcasing real-life testimonials from beneficiaries, and pursuing external resource mobilisation beyond government capitation.
HELB opted for the new approach as a last resort after thousands of former beneficiaries failed to respond to the warning notices previously issued to them.
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However, many borrowers have cited lack of employment as the main reason for default, with some urging HELB to extend the grace period to allow them to secure jobs.
In the notice dated Monday, March 24, HELB called on Kenyans who are yet to pay their outstanding loans to utilise an 80 percent waiver on Kenyans who have settled their loans in full.
“Settle your HELB Loan in a lump sum and enjoy an 80 per cent waiver on accrued penalties. Simple, rewarding, and just a call, DM, or email away!” read the notice in part.
Kenyans looking to kickstart their repayment process were urged to dial *642# on their phones and follow the prompt messages or visit the HELB portal.
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