Slashing Helb interest is bad policy

Student loan beneficiaries at Helb offices in Nairobi. FILE PHOTO | NMG

Last week, the National Assembly’s Education committee rejected proposed changes to the Helb Act, which sought to slash interest charged on student loans from the current four to three percent.

The proposal also sought to change the grace period for the student loan repayment increased from one year after completion of studies to five years and defaulters exempted from paying the $50 fine.

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Note: The results are not exact but very close to the actual.