Members of the National Assembly have welcomed radical proposals to the Higher Education Loans Board law which among others seeks to bar the Board from levying any interest on a loan until such a time that the person is able to service it.
The Bill sponsored by Kiharu MP Irungu Kangata, requires the graduates to notify HELB in writing on the lack of a source of income a year after receiving their degrees or diplomas, upon which the board will avoid an automatic 5,000 shillings cumulative monthly fine levied on the loan.
MPs Agostinho Neto, Ronald Tunoi and Issac Mwaura also want a criteria that allows a proposal to incorporate a student from the public and private university to sit in the Board.
Legislators led by Jubilee Coalition Chief Whip Katoo Ole Metito hailed a proposal that will allow minors to apply for loans through their parents and guardians, saying it will assist those without National Identity Cards to access Government education loans.
