Support the youth in Kenya!

The Higher Education Loans Board Act of 1995 establishes a fund that provides loans to students in intitutions of higher learning in Kenya. Section 15 (1) and (2) of the Act provides that beneficiaries of the loan should begin repaying the loan, one year after completing their studies. Failiure to comply is an offence that attracts a fine of 5000 Kenya shillings. 

HELB has however been exacting a penalty of 5,000 Kenya Shillings per month on all loanees who fail to service the loan every month after the said one year . This is done whether one has began repaying or not. This is in excess of what the law provides since one should not be penalized provided they have began the payment within the stipulated time.

Kenya has a forecasted unemployment rate of 40% according to:  http://www.tradingeconomics.com/kenya/unemployment-rate . How then can young graduates be expected to service every month without fail one year after completing college? What happens to young people who are self employed and do not have a regular monthly income?

This measure is punitive and beyond what the law prescribes. We are therefore charging HELB to unconditionally revoke the monthly penalties where levied. The Parliamentary committee on Education, Research and Technology should also review the repayment terms in the Act to reflect current realities.

I started this petition since I am an affected young Kenyan and this petition will help young people in Kenya from facing an unnecessary debt burden. What's more, I am a laws student who is subject to another 18th months of learning after completing my first degree. How then are students in my category expected to service a loan every month?