Parliament has revived an attempt to lower the interest charged on Higher Education Loans Board (Helb) loans to three percent from the current four percent, nearly a year after State House rejected a similar Bill due to a clause that sought to exempt beneficiaries from repaying their dues until they secure jobs.
The Helb (Amendment) Bill, 2023 marks renewed efforts by lawmakers to push for the lower interest charge, which they argue will cushion jobless graduates who have grappled with high loan servicing obligations and punitive penalties for defaults.
