Kenyans online have shared the reasons as to why they fear taking HELB loans and have even warned other students from daring to take loans.
The loans are meant to help student pay up their fee and to some this could be used as upkeep money.
Loans are a good thing until it is time to pay up and in most cases that is when many get stuck especially at a time when an individual is unemployed.
That stands to be the greatest challenge to many of the Kenyans students after completion of their studies.
In a drafted tweet, one Kenyan drafted a note saying that if one is able to pay their fees without the HELB then it is best to go that direction.
Giving his reasons, he highlighted that the Minimum Monthly Repayment for HELB has been set at ksh. 5,000 and stated that student loans are worse since one cannot file bankruptcy on it.
I have personally gone through a couple complaints by Kenyans on the frustration they go through when they are required to pay up.
Dear Campus Students,
If You can afford fees, DO NOT apply for HELB. A student loan is the WORST loan in the WORLD because you cannot file bankruptcy on it. The Minimum Monthly Repayment for HELB has been set at ksh. 5,000. Utajua Bills ama Loan.
Yours Faithfully
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Bravin.— BRAVIN™ (@ItsBravin) December 28, 2018
These are among the concerns that many Kenyans want to be addressed and lay out other reasonable terms and conditions in favor of these students.
As I said If you can AFFORD fees. Afadhali Harambee kuliko HELB
— BRAVIN™ (@ItsBravin) December 28, 2018
For a country with a crazy unemployment rate like ours, a grace period of 1 year is so short. Coupled with an inefficient higher education system riddled with missing marks, those penalties are very high. Graduates don’t earn as high in their first jobs to afford 5K p.m.
— Kung’u ka Wambui (@BanditEconomy) December 28, 2018