4 ways you can kiss that Helb debt goodbye

The Higher Education Loans Board (Helb) recently lamented their lack of funds to run their projects. 

According to Helb’s CEO Charles Ringera, the agency requires about Sh11 billion to loan to needy students for higher education and also to cover other operational costs.

The agency which is currently supporting more than 209,000 students at universities in the region divulged that only a few beneficiaries make an attempt to settle their debts with the body.

For it, financing other students’ studies in institutions of higher learning becomes a hurdle.

Most graduates in Kenya, however, find it difficult to repay their Helb debt after university for lack of immediate lucrative jobs on graduating. The hustle for a source of income is made worse by constant reminders from the loaning body to start repaying the funds. Paying Helb debts however isn’t difficult when one wraps their mind on it.

Here are a few ways to slice and eventually wipe off your Helb debt.

Make it a priority

To some people, payment of Helb loan is as remote a need as buying a car on a Sh30, 000 salary. However, it is of great prominence you think of it as helping a person in dire need to go through their university education. This way of thinking makes payment of Helb debt a basic thing to do.

Start repaying with your first salary

It doesn’t matter whether it is a 2-digit salary or a fortune for a monthly pay. I have a friend who takes care of his family and still manages to set aside a few coins from his coffers to repay his Helb loan debt. He however earns what most people would call peanuts.

The point is, don’t wait until you land a Sportpesa jackpot for you to settle your debts. Rather, start now with whatever you call peanuts for a salary. You will move the lender body to the next level. Delay with Helb monies becomes expensive in the long run.

Create your own job

True, finding lucrative employment in Kenya is a hurdle for young graduates. Needless to say, tens of job applications turn futile until one turns to unconventional ways to make money. It is a good thing your kind of hustle doesn’t engrave itself on the money you make at the end of the day.

So, do something, anything to make money, provided it is ethical. Later, you can settle on your dream job, but meanwhile, debts must be paid. The more you push away Helb loan debt as you roam the streets clad in a suit looking for a proper job, the more the debt accumulates.

Before you know it, you will be paying a million shillings when you only got Sh35, 000 per semester while in school.

Avoid huge chunks of Helb monies

Students err when they apply for the highest amount loanable while in university. They stretch ends to dupe Helb that they are in terrible want. Some fake their parents’ divorce while some pose as orphans.

Anything, but life must be comfortable. They then go ahead to use this money to entice campus girls while others waste it away in brew points. When they get out of university, they are faced with a harsh reality of how much they spent which they must pay. It is wise to spend within the limits of the minimum amount you are awarded so that paying back won’t be an uphill task.