HELB to roll out new initiative to recover funds owed by beneficiaries
The Higher Education Loans Board is working to roll out a new initiative that will see it recover billions of shillings owed to it by beneficiaries of the fund. Speaking while officiating the launch of the electronic payments card in Narok County, HELB’s chief executive indicated that they will be casting their net wider to catch loan defaulters working in the diaspora. The loans board is yet to recover 21.9 billion shillings from past beneficiaries of the state-backed loans that are due for payment, deepening the agency’s funding crisis. HELB is now working on mitigating such trends by ensuring all disbursements are done electronically.