HELB

In July 1995, the Government through an act of Parliament established the Higher Education Loans Board (HELB) to administer the Student Loans Scheme. In addition, the Board is also empowered to recover all outstanding loans given to former university students by the Government of Kenya since 1952 through HELF and to establish a Revolving Fund from which funds can be drawn to lend out to needy Kenyan students pursuing higher education.

HELB 2018/2019

• HELB Compliance Certificate
• HELB Waiver and Interest Rate
• HELB Application 2018
• HELB Application Deadline and Status 2018/2019
• HELB Account Creation and Registration
• HELB Student Portal

The Higher Education Loans Board offers loans for undergraduate, postgraduate and Tertiary studies. It also offers scholarships and bursaries to the very needy students. All applications for financial assistance are done online on www.helb.co.ke.

HELB Loan 101

Visit www.helb.co.ke to access the following services online:
1. Loan status
2. Loan statement
3. Compliance Certificate Or visit the Google play store to download the HELB App today

Q: How often do you send Loan statement?
A: To know your loan status visit our website: www.helb.co.ke

Q: What are the modes of repayment?
A: Check off system, Credit card, Standing order, Cash/cheque deposits to HELB Account. See payment options above or visit www.helb.co.ke

Q: How do I pay my loan from abroad?
A: you can pay online using “WAVE”. Please refer to payment options above

Q: What happens if I default?
A: You will be penalized. For each month that remains unpaid you pay a fine of not less than KES. 5,000

Q: Can I clear in one installment?
A: Yes, without any extra charges.

Q: Why charge ledger fees?
A: For administration of your loan account.

Q: What happens when I clear my loan?
A: You will be issued with a certificate of clearance.

Q: What happens if I overpay?
A: HELB shall refund the overpayment.

Q: How long does it take to get a refund?
A: A maximum of one month

Q: What if I die before clearing the loan?
A: Your next of kin is required to contact HELB

Q: What happens if I change employers?
A: Inform HELB and get new repayment plan.

Q: Loans are not recoverable after six years. Is it applicable in your case?
A: No. HELB is governed by an Act of Parliament that dictates loan recovery.

Q: Can interest be waived for Muslims?
A: Not at the moment. However, HELB is keen to introduce Shariah Compliant Products in the future

Q: Do you repay the loan if you are on probation?
A: Yes. The loan is due for repayment upon completion of studies or when HELB recalls the loan, whichever is earlier.

Q: How do you determine the monthly deduction rate?
A: Undergraduate loan are repaid within 120 months upon completion of studies while loans for salaried students are repaid within 48 months upon disbursement. Other loans have specific repayment period. Please refer to loan agreement form or contact HELB on contactcentre@helb.co.ke.

Q: Payslip balance does not tally with that in HELB statement.
A: Payslip balance includes both accrued and projected interest. HELB statement balance only includes accrued interest.

Q: My payslip balance reads zero, does that mean I have cleared loan repayment?
A: Not necessarily. Please confirm with your loan statement and seek clearance from HELB.

Q: Does my employer need authority from me to make loan deductions?
A: Like any other statutory deduction, authority is derived from the law (HELB Act 1995)

Q: Can I instruct my employer to start deductions without first consulting HELB?
A: Yes

Q: My employer stopped deductions from my pay, that’s not my mistake.
A: Loan repayment is your responsibility. Please keep track of your repayment until completion.

Q: What happens if an employer does not remit the deductions made?
A: A penalty 5% of per month is charged on the employer for every deduction that remains unpaid.