Deputy President William Ruto has promised to review the Higher Education Loans Board (HELB) rates should he ascend to the Presidency in 2022.
Speaking at Chuka University in Tharaka Nithi County on Wednesday, November 17, the DP also vowed to increase repayment period to five years from the current grace period of 12 months from the school completion date.
He pointed out that he would deliver his promise to the people through the bottom-up economic model.
"You have requested to increase the HELB loan amount as well as to slash the interest rate to zero per cent. Further, you also requested the repayment period to be increased to five years. All this will be made possible through the bottom-up economic model," he stated.
Addressing the issue of youth unemployment, he assured all fresh graduates would be absorbed into a 12-month internship program by the government.
"Our model will ensure that all the fresh graduates get absorbed into an internship program," he promised while hinting at possibility of increasing the monthly stipend offered during the internship program.
Ruto's promise is similar to one made by the Orange Democratic Movement (ODM) leader, Raila Odinga, who promised that university students would not pay back the education loans if he ascends to power in 2022.
"I said that when we take over the government, we will convert HELB loan into a grant,” Raila promised through his Azimio la Umoja campaign bid.
Further, he had promised to offer interest-free loans to Kenyans wishing to start businesses - reiterating his commitment to support Micro, Small and Medium Enterprises (MSME).
"Those who want to start their businesses will get loans from the government and will not pay anything till the lapse of seven years so that their businesses get to flourish,” said Odinga.
“The businesses will be protected by the government such that they are not unfairly targeted by the tax authority.”
As the 2022 General Election draws closer, politicians will be looking to woo the voters through their various campaign bids. This has seen them touring various counties popularising their bids.
