Ruto Pledges to Make HELB Loans Interest-Free If Elected President

Deputy President William Ruto has pledged to ensure university and college students get interest-free loans if he ascends to power this year.

Ruto, who is running for the presidency under the United Democratic Alliance (UDA) party, said his administration will convert the Higher Educations Loans Board (Helb) loan into a grant, in addition to increasing the amount disbursed to students.

“We want to make sure that loans from the Helb do not have any interest rates. The amount of money disbursed to the students is so small. We need to increase the amount so that the comrades can have enough to take care of their educational needs,” Ruto said.

“And in future, we will make the Helb a grant, not a loan, especially to the vulnerable students from poor backgrounds.”

Speaking on Tuesday in Kitui County where he drummed up support for his State House bid, the deputy president also promised to ensure the funds are disbursed to students on time and that they are not listed on the Credit Reference Bureau (CRB).

“We will also fast-track the process of releasing the funds. Most university students receive the money when they are very broke. We will also make sure no person appears on the CRB for defaulting on their student loan,” he added.

Ruto’s main challenger in the August 9th presidential election Raila Odinga of the Azimio la Umoja coalition has also promised to make the HELB loan a grant.

But HELB, through its CEO Charles Ringera, has opposed the proposal, insisting that the board already issues a grant to university students.

“This is money paid to students in universities through the Differentiated Unit Cost (DUC) and they do not pay it back,” Ringera stated.