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Release the Helb loans to students immediately – Helb told

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Release the Helb loans to students immediately – Helb told

Manyatta Member of Parliament Gitonga Mukunji has appealed to the National Treasury to release the Higher Education Loans Board (HELB) loans to students.

The MP said majority of university and college students were in dire need of the money as the new academic calendar year   has commenced, saying the delayed disbursement would greatly affect their studies.

Mukunji who was speaking on Tuesday during the enrollment drive of NG-CDF bursaries beneficiaries at Talent Academy in Embu Town, said majority of beneficiaries were from needy families and depended on the funds for fees and upkeep.

He said he was a beneficiary of the fund and was thus well aware of the critical role it plays in giving poor students an equal opportunity to learn and shape their future.

“Were it not for HELB, I won’t be standing here today,” the MP said while calling for reforms barring the board from imposing exorbitant fines to defaulters.

He said the unemployed loanees ought to be given a reprieve until they secure jobs as opposed to the current setting where borrowers are given one-year grace period upon completion of studies to start repaying.

“We want HELB beneficiaries who are jobless not to be slapped with the five percent penalty charged every month on the total amount due,” the legislator said.

He at the same time promised to ensure transparency in the allocation of the bursaries to ensure no deserving case was left out.

Mukunji challenged the learners in secondary, tertiary and university to reciprocate by putting more effort in their studies and posting good results.

“I will try as much as I can to ensure no student gets stuck for lack of school fees,” he said.

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Helb now to run the Afya Elimu Fund [AEF]- Helb latest news

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The Higher Education Loans Board [HELB] has officially taken over the Afya Elimu Fund [AEF]. The take over happened at an event presided over by Dr. Patrick Amoth, Director General in the Ministry of Health and attended by Hon. Ekwee Ethuro, HELB Board Chairman; Charles Ringera, HELB CEO; Dr. Janet Muriuki, Country Director, Kenya, IntraHealth International; Prof. Michael Kiptoo, CEO, Kenya Medical Training College and representatives from USAID and other Partners.

AEF started as a scholarship scheme in the Financial Year 2012/2013 targeting to offer scholarships to 341 middle level health trainees in specific cadres and from marginalized areas. It was converted into a loan scheme in the Financial Year 2013/2014 targeting 2,200 middle level health trainees in specific cadres, from marginalized areas as well as high HIV prevalent counties in view of PEPFAR funding.

The initial main funders for AEF included USAID FUNZOKENYA Project, HELB and MoH who jointly contributed Kshs.120M. As of 31st March 2021 the AEF Fund had supported over 48,188 students with a total of Kshs.3.06B

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“The vision of AEF at inception was to grow the Fund to Kshs.2B by the year 2021 and we have clearly surpassed the target. Further, we have over 11,000 beneficiaries who have graduated. Recovery of these loans began in the Financial Year 2019/2020 and over Kshs.200M has been recovered to date,” said Charles Ringera, CEO HELB.

Some of the key partners to specifically join in supporting AEF include I & M Bank, Standard Chartered Bank, The Family Group Foundation and Rattansi Education Trust. Counties such as Kakamega, Taita Taveta, Bomet and Busia have set up special funds managed by HELB to support training of middle level health workers for their counties.

“To ensure sustainability AEF beneficiaries have from Financial Year 2019/2020 been covered under the HELB Students’ Loans Self-Protection Scheme [SLPS] starting with the First Time Applicants. So far, under the SLPS, a total of Kshs.2.9M has been deducted from 9,547 beneficiaries to cover a loan portfolio of Kshs.397.6M,” said Charles Ringera, CEO HELB.

AEF was the flagship Public Private Partnership project for HELB and since then, HELB has progressed with another 27 partnerships in a proactive approach towards external resource mobilization to gradually reduce the over reliance on Government exchequer.

HELB offers a unique opportunity for to partners to utilize a robust system of identifying deserving students, disbursing, and recovering the funds. In the last 6 years, HELB has mobilized over Kshs. 1.36Billion from 28 partners thereby facilitating over 35,000 students to pursue higher education in TVET Colleges and Universities.