Bulletin d'alerteStop Higher Education Loans Board (HELB) from EXPLOITING and OVERCHARGING beneficiaries.Victory! Statement on The Higher Education Loans Board (HELB) Overcharging Beneficiaries
L'équipe de Change.org
22 sept. 2022
Dear Changemaker, due to your support and signatures in ensuring that pressure is brought to bear on the Higher Education Loans Board (HELB) and the decision makers thereof we are pleased to note that this cause can be logged as a victory! In his ruling Judge Mabeya stated, “It was therefore contended that the debts had doubled the principal amounts. That the interest rates and penalties were exorbitant and contravened the beneficiaries’ socioeconomic rights as enshrined in the Constitution and made it difficult for them to repay the loans.” With the above context we welcome the judgement by the courts on this very pertinent issue that is landmark in its very nature. Additionally, the court in pronounced itself on the unconstitutional nature of the interests levied; “A declaration hereby issues against the respondent (Helb) that by imposing interest amounts and penalties or fines that exceed the principal amount, the respondent is in contravention of Article 43 (1) (e) and (f) and Article 27 of the Constitution of Kenya,” said Justice Mabeya in the judgement. The court further declared section 15(2) of the HELB Act unconstitutional to the extent that the interest rates and fines exceed the principal amount advanced. The latest data from Helb shows loan accounts in default currently stand at 94,216 from the 109,661 recorded by February, with unpaid loans standing at Sh10.2 billion. Thank you again Changemaker. We look forward to keeping you all updated on news regarding this matter.
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