The Higher Education Loans Board (HELB) has denied widespread claims that it has frozen the bank accounts of over 316,000 loan defaulters.
In an official statement, HELB clarified that the viral message circulating on social media is completely false and meant to mislead the public.
Shortly after the misleading post began trending online, HELB issued a public notice stating that the information was entirely fake and was part of an effort to spread panic and misinformation.
The board advised all its loan beneficiaries and the general public to confirm any announcements or news about HELB from its official communication channels.
“Don’t worry—your bank account is not at risk! That viral message claiming HELB is freezing accounts is completely false. It’s fake news meant to cause unnecessary alarm. Always verify such information by checking HELB’s official page,” the board said in its public response.
The fake message was originally posted by a popular X (formerly Twitter) account early Sunday morning and quickly gained traction online.
Hundreds of Kenyans reacted to the post with concern and anger, believing the news was true. The post claimed that HELB was seeking parliamentary approval to freeze the bank accounts of 316,000 graduates in an attempt to recover Ksh35 billion in unpaid student loans.
The viral message stated: “HELB is preparing to freeze bank accounts of 316,000 graduates who haven’t paid back their student loans. If Parliament agrees, HELB could recover Ksh35 billion.”
The false report surfaced only days after HELB’s CEO, Geoffrey Monari, addressed lawmakers during a meeting with the National Assembly’s Public Investments Committee on Governance and Education.
During the session, Monari said that HELB was finalising a plan to partner with police and other law enforcement agencies to help locate graduates—both in Kenya and overseas—who are employed but have not begun repaying their loans.
He emphasized that the initiative was not just about money but about promoting a culture of responsibility among those who benefited from state-funded higher education. “This is more than just financial recovery.
It’s about creating a sense of responsibility and national pride among our beneficiaries. When people repay their loans, it enables HELB to continue supporting students from poor backgrounds,” Monari explained.
However, just one day later, on May 31, HELB released another statement contradicting the CEO’s comments. The board reassured the public that it would not involve the police in any loan recovery efforts and instead encouraged borrowers to take personal initiative to repay their loans.
“HELB is not using the police to chase after those who haven’t paid their student loans. This is not about fear—it’s about appealing to your conscience,” the board clarified in its updated statement.
The board added that repaying student loans plays a bigger role in supporting the next generation of Kenyan learners. “When you repay your loan, you’re doing more than settling a debt.
You’re giving another Kenyan student a chance to learn, achieve their goals, and build a better life. Let’s support each other and help make dreams come true,” HELB concluded.
This incident has brought to light the dangers of fake news and the importance of verifying information from credible sources, especially when it concerns financial and legal matters.
HELB continues to urge the public to rely solely on its official platforms for accurate updates.
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