GOVT INTRODUCES NEW LOANS FOR CIVIL SERVANTS

The Higher Education Loans Board (HELB) offers 4% interest on up to Ksh500,000 loan for government employees.

The loan, meant to cover post-graduate studies, was made available to employees within the National Government, County Governments, and the National Police Service.

On Monday, January 9, HELB called on interested members to submit applications under the KRA Training Revolving Fund (KTRF).

“We offer a loan that comes with a competitive interest rate of 4% per year,” HELB announced in a statement on Twitter.

HELB however issued requirements that would prove eligibility for the loan which is intended to enable civil servants to improve their skill set and knowledge, to better serve the nation.

Requirements

Applicants must have successfully applied to the institutions. The requirements given by HELB for qualified individuals include an admission letter from KESRA or any other recognised Kenyan institution.

Individuals interested in the funding should have discussed pursuing the course with their employer, who then ought to issue a recommendation letter, which is to be submitted during the application process.

A copy of a national ID authenticated by the commissioner of oaths is also a requirement for the application process.

Additionally, applicants are to present a copy of a KRA pin and copies of national IDs from two guarantors who should be government employees. Both documents must have been certified by a commissioner of oaths.

Presentation of copies of the applicant’s pay slips of up to three months certified by their employers was also listed as a requirement.

“Applications for the loan are to be done through the HELB student portal,” HELB stated.

Repayment of KTRF, which covers tuition, library, computer, and research and examination fee, must be done a month after disbursement through a monthly check-off system from the employer’s payroll.

Loan repayment period issued by the board was over a maximum period of four years.

On Sunday, January 1 President William Ruto announced that the National Skills and Funding Council, which is set to replace HELB, will mobilise grants, bursaries, and scholarships from private and public sponsors to cover non-tuition costs.

“To close the current 45 percent funding gap in higher education, the government will establish the National Skills and Funding Council, which will integrate HELB, TVET, and the University Funding Board,” Ruto stated.

Source: Kenyans