ADVOKS GLOBAL · KENYA
Higher Education Loans Board Act
15. Obligations of the Loanees
Edition: 2023-12-11 · In force
15. Obligations of the Loanees
(1)A loanee shall be required, subject to and in accordance with this Act or any regulations made thereunder, within one year of completion of his studies or within such a period as the Board decides to recall its loan whichever is the earlier—(a)to inform the Board of his contact address;(b)to begin repayment of his loan together with any interest accrued thereon;(c)if he is in formal employment, to authorize his employer to deduct the loan repayment and to remit it to the Board in such manner as the Board may direct.(2)Any loanee who fails or neglects to satisfy the requirements of subsection (1) within the stipulated time shall, in addition to any other action that the Board may take against him, be guilty of an offence and liable to a fine of not less than five thousand shillings in respect of each loan deduction that remains unpaid in accordance with provisions of subsection (1) and such fine shall be payable to the Board.