Sunday, April 14, 2013

Helb's Swipe Card to Curb Wastage Among Varsity Students

The Higher Education Loans Board (HELB) is set to launch a smart card that will curb misuse of funds among varsity students.

Speaking on Thursday morning during a meeting organized by the Kenya Institute of Supplies Management (KISM), HELB Chief Executive Officer Charles Ringera said that the Board had plans underway to load loans on smart cards to tame the flippant expenditure by students.

The system is expected to feature a three-portion loading criteria divided into paying tuition fees, upkeep and general use. The tuition segment will not be withdrawn for any other function through ATMs or Points of Sale.

The move is geared at preventing students from diverting the loans to other activities and dealing with the high default rate.

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