STATEMENT BY HON TIM WANYONYI ON HELB AMENDMENT BILL 2018
The recent announcement by Education CS Ambassador Amina Mohammed, that HELB loan defaulters will be hunted down by Police and arrested in a bid to recover KES 7 billion of the fund is totally misplaced.
Kenyans at large are living in tough economic times, jobs are scarce with a majority of University graduates without meaningful or lack employment to be able to afford their basic needs.
The stress levels of unemployed graduates is at an all time high with some even reaching an optimum point to either commit suicide or go insane.
I have read many heartbreaking stories and confessions online of graduates having received First Class Honors in their fields of specialization but are languishing jobless and are in extreme poverty.
The recent story of Baringo first class honors degree holder in Economics Ruth Chemutai Rono made headlines a few weeks ago. It is one of many similar stories.
The arrests insinuated on the youth who are mostly without jobs is uncalled for and not logical.
The government should instead put in place measures to fast track agenda 4 and other similar initiatives to increase the current youth employment rate.
To bring sanity to this issue, I will push and support the pending HELB Amendment Bill 2018. The Bill entails reduction of the HELB interest rates from the current 4% to 2%.
The Bill also seeks to waive the accrual of interest rates until the youth secure their first employment.