HELB new directives to students who missed loan.
On August 14, the Higher Education Loans Board (HELB) provided clarification regarding how it will distribute funds to students. More than 2,000 students requested assistance but lacked National Identity cards during application.
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 also emphasized that the board’s options are constrained. This because it is forbidden by law to issue loans to borrowers who are under the age of eighteen years.
HELB new directives to students who missed loan.
“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. He told them that there were plenty of resources available to meet their basic demands.
Ringera likewise emphasized the fact that the new funding model was implemented at the perfect time. It therefore ensures 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 program 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 enroll in colleges and institutions in September. In order to dispel rumors that some students would be excluded, the CEO of HELB emphasized that all students will be attended to.
The new financial approach divides students into four groups:
- Vulnerable
- Severely in need
- In need
- Less in need
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HELB new directives to students who missed loan.