HELB New Guidance to Students who Missed the Loan
HELB New Guidance to Students who Missed the Loan. On August 14, the Higher Education Loans Board (HELB) provided clarification regarding how it will distribute funds to more than 2,000 students who requested assistance but lacked National Identity cards. This is number is quite huge considering that many of them will be needy and require the loan for fees payment.
Chief Executive Charles Ringera said in a statement that the money would be withheld until the student had a valid ID. When applying for a loan through HELB, both the student and their parents must provide their personal identification numbers.
The CEO of HELB stressed that the board’s options are constrained because it is forbidden by law to issue loans to borrowers who are under the age of 18.
“An ID is important for identifying the identity of the student, especially when they are repaying the loan,” the speaker said.
Additionally, the CEO exhorted students to submit applications for the publicly announced government subsidies, telling them that there were plenty of resources available to meet their demands.
Ringera emphasised the fact that the new funding model was implemented at the perfect time to ensure that every student has access to the materials they need to enhance their education in order to increase his confidence in it.
The assigned funds will still be available to the student if they decide to change their programme of study or transfer to a different university, which is a change from the previous arrangement, he added.
More than 285,698 students are expected to enrol in colleges and universities in September. In order to dispel fears that some students would be excluded, the CEO of HELB highlighted that all students will be catered to.
The new financial approach divides students into four groups: vulnerable, severely in need, in need, and less in need.
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