Why Students Must Score 80% in HELB Test to Receive Loan
According to Charles Ringera, CEO of the Higher Education Loans Board (HELB), applicants for financial aid from the organisation must first take a test.
Ringera stated that the test’s goal is to educate pupils on the guidelines for the funding during a Kenyans.co.ke Twitter space on Monday, August 7.
The exam will also be used by HELB to classify students into different groups and determine how much money will be given out in scholarships and loans.
In order to submit their application, students must receive a test score of at least 80%.
“The test aims to create an awareness that this is a loan and scholarship and details the payments you will have to make depending on the classification that you are in,” said Ringera, who works as a banker.
Furthermore, he insisted that even though they get funding under the previous model, continuing students will still be required to take the test.
Why Take the Exam
Ringera emphasised scenarios in which applicants questioned the justification for HELB’s provision of a one-year grace period for loan repayment, citing instances in which students had trouble understanding loan terms.
The one-year grace period, according to the CEO of HELB, was designed to help students transition and establish themselves after graduation.
The terms of the loan are as follows. Your older siblings won’t be able to access the loans if you don’t repay the debts. Loan repayments account for 33% of our budget, according to Ringera, a former Central Bank of Kenya inspector.
“More Kenyans will go without funding if we loosen the model, just like last year when we ran out of money,” he continued.
He urged Kenyans to execute their duties by emphasising that borrowers could pay back their loans in a series of installments starting at Ksh 500.
Ringera further exhorted Kenyans to embrace the unorganised sector, which also provides prospects for work after graduation.
Why Students Must Score 80% in HELB Test to Receive Loan
