The Higher Education Loans Board (Amendment) Bill, 2022
Status Timeline
Proposed
Active now
Public Review
Pending
Debate
Pending
Executive
Pending
Final
Pending
Access to Loans for Under-18 Students
Inserts a new subsection (2A) in Section 14 of the Higher Education Loans Board Act, 1995, prohibiting the Board from rejecting loan applications solely because the applicant has not attained eighteen years of age.
Parental Co-Signatory Requirement
Inserts subsection (2B), requiring underage loan recipients to have their parents or guardians sign as co-signatories to guarantee the validity of the loan agreement.
Validation of Underage Agreements
Establishes a legal framework allowing university students without national identification cards to access higher education financing while ensuring the underlying loan contracts remain legally binding.
Bill No.
No. 58 of 2022
Gazette No.
Supplement No. 188 of 2022
Sponsor
Joyce Kamene
Background
Many university students who qualify for higher education funding have not yet reached the age of eighteen and lack national identity cards, leaving them unable to access necessary student loans. The Higher Education Loans Board (Amendment) Bill, 2022, seeks to address this barrier and ensure all eligible students, regardless of age, can access higher education financing.
Key Amendments
Amendment of Section 14 of No. 3 of 1995
The Bill proposes to amend Section 14 of the Higher Education Loans Board Act, 1995, by introducing two new subsections immediately after subsection (2):
- Subsection (2A): Mandates that the Board shall not reject a student's loan application solely because the student has not attained eighteen years of age.
- Subsection (2B): Mandates that any student under the age of eighteen who is granted a loan must have their parent or guardian sign as a co-signatory.
New Obligations
For Underage Students and Guardians
- Eligible students who are under eighteen years of age must secure the signature of a parent or guardian as a co-signatory to their loan agreements in order to receive funding.
- Parents or guardians must act as co-signatories to ensure the contract's legal validity.
No updates tracked yet
Updates will be visible here once they are approved and applied to this bill.