HELB Elaborates Listing Students On CRB and Loan Repayment Schedule 2023
HELB Elaborates Listing Students On CRB and Loan Repayment Schedule 2023. According to rumors, the Higher Education Loans Board (HELB) routinely gave the Credit Reference Bureau (CRB) the names of college students who had defaulted on their loans, but Charles Ringera, the organization’s CEO, denied this.
In a Citizen TV interview, Ringera argued that borrowers have a year after graduation to repay their loans.
He asserted that no student was required to settle their loans while still pursuing their studies, referring to a timer created on each student’s account. Ringera claims that the company utilized the timer to calculate a student’s time on campus and loan repayment schedules.
“It is incorrect that we require students to pay back their loans before they receive their degrees. Based on the timing of the courses when we interact with you throughout the first year of the application, we put a timer on the account.
If you are unable to graduate, you can come and let us know when the timer expires. If you have a medical condition, you could even request additional funding, he clarified.
On the other hand, he insisted that the names of loan defaulters were placed on CRB six years after graduation. Ringera went on to say that there was still time for the defaulters to negotiate a repayment schedule with the board in order to prevent their names from being reported negatively.
The CEO observed that many Kenyans faced challenges after graduating, such as unemployment and illness. Ringera claimed that HELB has an open door policy for beneficiaries and was willing to engage with them to modify their loan repayment schedules.
“In accordance with the time stamp, we request that you repay the loan one year later. We may need up to six years before we can submit your name to CRB. It is referred to as “hardcore debt.”
Ringera hinted that HELB was eager to work with recipients to restructure their loan repayment schedules and maintained an open-door policy for them.
“According to the time stamp, we need that you repay the loan after a year. Before we can submit your name to CRB, we might need up to six years. The term for it is “hardcore debt.”