×
× Digital News Videos Opinion Special Reports Lifestyle Central Coast Eastern Nairobi North Eastern Nyanza Rift Valley Western Business News Stocks Financial Standard Africa Asia America Europe Weird News Editorial Commentary Letters Crazy World Features Entertainment Money & Careers Health & Science Sci & Tech Home & Away Generation Next Cartoon Education Pointblank Environment Travel & Destination Columns Kipkoech Tanui uReport Kiambu Murang'a Nyandarua Kirinyaga Nyeri Baringo Bomet Elgeyo Kajiado Kericho Laikipia Nakuru Nandi Narok Samburu Trans Nzoia Turkana Mombasa Kwale Kilifi Tanariver Taita Taveta Kakamega Vihiga Bungoma Busia Siaya Kisumu Homabay Migori Kisii Nyamira Nairobi Uasin Gishu West Pokot Sunday Magazine The Hague Trial Kenya @ 50 Education and Training Health and Environment Insurance and Financial Security Housing Current Affairs Humour Makau Mutua David Oginde Clay Muganda Comand Your Morning Mohamed Wehliye Wednesday Life Alexander Chagema Arts & Culture Kamotho Waiganjo Barrack Muluka Xn Iraki Urban Rights - By Steve Ouma Branding Voice KCB Fredrick Ogola Sunday Magazine Wanja Kavengi Njoki Kaigai David Oginde Ken Opalo Daisy Maritim Houghton Irungu Hustle News Group Stages Round of 16 Quarter Finals Semi Finals Finals Third Place play-offs Opinion Dr Pesa Podcasts Round Table Sepetuko Eve Woman Ramadhan Special Fact Check Correction Explainers The Standard Insider Blog E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS
×

HELB must rethink its approach to recover outstanding loan repayments

By Marcus Waweru | November 22nd 2019 at 01:00:00 GMT +0300

The Higher Education Loans Board (Helb) should reconsider its approach to students’ loan recovery if it is to remain self-sufficient and effective.

Reports that Helb will publish the names and photos of defaulters in the leading dailies cannot be considered to be a progressive approach to loan recovery in a modern society.

The decision exposes the agency's lack of imagination and application of modern and practical methods to get debtors to pay up.

The board should instead consider issuing full waivers on penalties and interest for outstanding loans, for a period of 90 days.

This is a simple approach – which has proved successful for other institutions – that doesn’t embarrass the loan beneficiaries who have defaulted.

In the past, Helb has issued partial (read 80 per cent) waivers on penalties accrued but has failed to waive the accrued interest. But to do this, Helb must stop seeing itself as a bank.

It is not in its interest to collect penalties on disbursed loans. 

Letter to the editor from Marcus Waweru in Nyeri.


Read More

Feedback