What Should You Do Once You Have Been Labelled A HELB Loan Defaulter In Kenya?

 What Should You Do Once You Have Been Labelled A HELB Loan Defaulter In Kenya?

What Should You Do Once You Have Been Labelled A HELB Loan Defaulter In Kenya?

 What Should You Do Once You Have Been Labelled A HELB Loan Defaulter In Kenya? - What to do as a student helb loan defaulter What to do as a student helb loan defaulter

Students on completion of university/colleges should start paying their helb loans within the first year. Helb loans start accruing penalties ONE YEAR after a student has completed universities. The Helb loan penalties are KSH 10000 for the first month and KSH 5000 per month for all consecutive years.

What happens after year two of a student having completed university/ college and has not started to pay helb loans? Towards the end of year two of a student defaulting the helb loans, HELB management send a student a warning letter. Within the letter HELB states the MONTHLY loan repayment amount for the student, which is a figure close to KSH 3000 (ksh 2818, for some students).

The Helb warning letter also states that the loan defaulter will have their name enlisted with the CRB (CREDIT REFERENCE BUREAU) in case the student does not start servicing their loan within the next 30 days as of the date of the letter. The CRB enlisting of a person means that your loan repayment will be under their scrutiny, and in case of further defaulting, a person cannot get loans anywhere else (including banks) and it could also mean probably being arrested.

In case a person is not employed, the monthly helb loan repayment installments minimum amount can be reduced from KSH 3000 to a minimum of KSH 1500 per month. The penalties that accrue per month for Helb loans that remain UNPAID is KSH 5000.

With the information we provide about    What Should You Do Once You Have Been Labelled A HELB Loan Defaulter In Kenya?

, We hope you can be helped and hopefully set a precedent with you . Or also you can
see our other references are also others which are not less good about HELB Loan Repayment Modes/Options


, So and we thank you for visiting.


open student loan :  http://www.kikwetulifestyles.com/page/37-what-should-you-do-once-you-have-been-labelled-a-helb-loan-defaulter-in-kenya