Type of test loan applicants will take and pass mark revealed
The Higher Education Loans Board (HELB) Chief Executive Officer (CEO), Charles Ringera, has said that students seeking funding from the institution must take a test before submitting their application.
The test aims to enlighten students on the terms and conditions of the funding.
According to Ringera, students are required to score at least 80 per cent on the test before securing government funding.
Speaking to a local media house, the HELBHELB boss explained that the test aims to enlighten students on the terms and conditions of the funding.
“We have a public awareness exam in which you must score 80 per cent to be eligible for HELB funding. After you pass the exam, you can then submit your application where you choose a scholarship or loan.” Ringera noted.
The test is also designed to categorize students for funding determining the amount of money allocated for scholarships and loans.
“The test aims to create awareness that this is a loan and scholarship and details the payments you will have to make depending on the classification that you are in,” Ringera stated.
Further, he maintained that continuing students will also have to sit the test despite being funded under the old model.
“Continuing students will also have to sit the test despite being funded under the old model.” He said
Furthermore, Ringera said that applicants are given a grace period of one year to begin repaying the loan so as to assist students in transitioning and establishing themselves after graduation.
The HELB CEO elaborated that the intention behind the one-year grace period was to assist students in transitioning and establishing themselves after graduation.
“These are the conditions of the loan. If you don’t pay for the loans, your siblings behind you will not access the loans. 33 per cent of our budget comes from loan repayments,” Ringera explained
Meanwhile, HELBHELB recently opened its online portal for students joining universities and institutions of higher learning seeking government scholarships, loans and bursaries to make applications before the window closes on August 27, 2023.
