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As much as many Kenyans lauded legislators for amending the Helb Act, many loan beneficiaries may take advantage and feign flimsy reasons to evade repaying their loans.
Naturally, every human being needs pressure to fulfill or execute a particular duty. Acquiring a loan is fascinating but repaying the loan is always an uphill task.
Levying a penalty on a loan ‘defaulter’ is not a punishment. Rather, it is one way of prompting the loanee to repay his or her loan. It dispels the spirit of indolence among the graduates and make them work harder to service their loans.
If the President signs the Bill into law, nearly all the loan beneficiaries will argue that they need to secure jobs in the formal sector to begin repaying their loans.
As a matter of fact, there are thousands of graduates who have not secured jobs in the formal sector but are more financially stable than their employed counterparts.
As the country is still grappling with employment crisis, many youths, most of who are beneficiaries of Helb loan, have resorted to start their own businesses to fend for themselves. This means they can service their loans.
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