HELB warns fraudulent employers
28 January 2014, 11:35
Nairobi - Higher Education Loans Board (HELB) CEO, Charles Ringera, has warned corporate organisations that collect money from beneficiaries but fail to submit to the lending institution that affirmative action will be taken against them if they do not stop.
Ringera was concerned by corporate organizations that have illegally been engaging in the act and urged the culpable ones to pay or face public shame.
“HELB receives KES 220 million every month from loan servicers but this money is usually not enough to cater for all loan applicants,” said Ringera.
Cabinet Secretary of Education, Prof. Jacob Kaimenyi advised the Board to initiate income generating projects to supplement the institution’s expenses noting that an estimated 1.5 acreage has been acquired in Nairobi’s Upper Hill to set up education centres.
“The companies should submit the money and if not, all means to get the money will be applied even if it means shaming them,” said Kaimenyi.
He noted that laxity in funds remittance is affecting other beneficiaries seeking the loan to further their education as they are allocated inadequate money from what they applied for yet millions of it lies with corporate institutions.
Kaimenyi stated that his Ministry plans to launch the Technical Vocational Education and Training (TVET) through the KES 400 million to be disbursed by HELB to benefit students who failed to reach the secondary school enrolment cutoff.
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