Shs45.9 billion due for recovery from study loan beneficiaries
About Shs46 billion is due for recovery by the government from the study loan beneficiaries who have since completed their studies at various universities and other tertiary institutions.
All students who secure study loans are given one year grace period and double the years of their study to repay back the money.
This means that a learner who offers a three-year course is given 7 years to repay back the money.
According to Micheal Wanyama, the executive director of the Higher Education Students Financing Board ( HESFB), a total of 4,860 students (diploma and degree) have completed their studies. These are supposed to pay back Shs46 billion.
However, the HESFB has been able to recover Shs1.1 billion, leaving a balance of Shs45.9bn.