Beneficiaries of the Higher Education Loans Board (HELB) loans scheme got a further reprieve after the board extended the 100 per cent Covid-19 penalty waiver by another 60 days
The extended waiver will run from May 1 to June 30.
In a statement, HELB Chief Executive Officer (CEO) Charles Ringera, said the extension of the waiver which had initially lapsed on April 30 was necessitated by harsh economic times
Ringera added that tough economic times and unemployment in the country are greatly affecting the effective repayment of loans.
The HELB boss added that apart from delayed loan repayments ,inadequate funding from the National Treasury has inadvertently created a funding challenge for students seeking HELB Loans.
According to HELB, limited funding is likely to lock out some 75,000 applicants who had applied to benefit from the scheme this year.
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