Ringera Clarifies Listing HELB Defaulters on CRB.
The CEO of Kenya’s Higher Education Loans Board (HELB), Charles Ringera, has dismissed reports that the organization submits defaulting university students’ names to the Credit Reference Bureau (CRB).
During an interview on Citizen TV, Ringera stated that loan beneficiaries were expected to start repaying their loans one year after graduation.
He added that students were not required to repay their loans while still studying, as each student’s account had a timer that helped the organization calculate their stay on campus and the loan repayment timelines.
Ringera emphasized that the organization did not require students to repay their loans before completing their studies, and if a student was unable to graduate within the specified time, they could inform HELB and even apply for another funding if they had a medical case.
The CEO clarified that the names of loan defaulters were only put on the CRB six years after graduation, and there was still room for them to negotiate with the board over their loan repayment to avoid negative listing.
“It is not factual that we request the students to pay the loan before they complete their studies. When we engage with you in the first year of the application, we know the timing of the courses, which is the timer we put on the account.
He acknowledged that many Kenyan graduates face challenges such as unemployment and illness, and HELB was willing to engage them in restructuring their loan repayment timelines.
Regarding funding, President William Ruto announced on March 23 that HELB had received sufficient funding for disbursement in the 2023-2024 financial year to assist those in need of loans.
However, in January 2023, he confirmed his administration’s intention to disband HELB and establish a different formula to finance institutions.
To achieve effectiveness and efficiency, the Kenya Universities and Colleges Central Placement Service (KUCCPS) and the University Funding Board (UFB) were earmarked for merging with HELB.
Ringera Clarifies Listing HELB Defaulters on CRB.
