HELB Loan was established with the aim of not just recovering all matured loans, but to raise sufficient funds to meet the rising loan demand and attain faster turnaround in loan repayments. Repay HELB Loan
It consists of three tiers:
Undergraduate section, which deals with recovery of undergraduate loans
Jielimishe Loan section that is charged with the responsibility of disbursing and recovering of loans from salaried students.
Allocation section charged with the responsibility of collection and updates of loanees’ accounts.
Undergraduate Loan Repayment starts within one year of completion of studies or within such a period as the Board decides to recall the loan whichever is earlier. However, you can make voluntary payments before or after you complete your studies to reduce your loan balance.
Completion of Loan Repayment
Upon completion of loan repayment, kindly seek clearance from HELB. Please note that only HELB and not your employer can confirm your loan repayment status. HELB shall confirm loan repayment completion by issuing certificate of clearance. For clearance, please fill in the HELB Enquiry form.
If you overpay your loan, you will receive a refund from HELB and not your employer. To claim refund, please fill in the Loan Recovery Enquiry form.
Jielimishe Loans are due for repayment immediately upon disbursement. Successful applicants shall be notified via e-mail.
All loanees [HELB loan beneficiaries] are required to start repayment after a period of one year on completion of studies, or within such a period as the Board may decide to recall the loan whichever is the earlier (Section 15 HELB Act). Paying the higher education loans at an early age reduces an individual’s financial burden in midlife when one is bringing up a family, paying a mortgage as well as planning for retirement. Among other advantages of paying the loans include; reduction of the number of loans that an individual has hence avoid being blacklisted with the Credit Reference Bureau (CRB) hence one can easily get a bank loan.
To ease your repayment, the Board has developed several different modes of repayment that suits the loanees who are employed and self-employed such as check off system, mobile payment that include M-Pesa, Airtel among others.
Therefore your obligation as a Loanee under the Act is to;
Inform the Board of your contact addresses (section 15 (a) HELB Act),
Begin repayment of your loan together with the interest accrued thereon (Section 15(b) HELB Act),
Facilitate the deduction and remittance of the loan to the Board – (Section 15 (c) HELB Act).
The Higher Education Loans Board Act, 1995 demands that employers adhere to the law as stipulated below:
Disclose Loanees: Inform the Board that they have employed loanee(s). This should be done within three months from the date of employment. (Section 16(1) (a) of the HELB Act)
Deduct from the wages or remuneration of the loanee(s) the amount of any loan as instructed by the Board (Section 16(i)(b) of the HELB Act)
Discharge/remit the amount deducted from the loanee’s wages or remuneration
LOAN REPAYMENT METHODS
HELB offers various loan repayment methods as follows:
Local Repayment Methods
Mobile Payment Services: M-PESA
Using M-PESA (Safaricom) Money Transfer:
Select pay bill optionEnter HELB business number as 200800Enter your national ID number as your account numberEnter amount you want to payEnter your secret PIN numberConfirm transaction and send
Note:The transaction reflects in your statement immediately after the transaction.
All payments are payable to Higher Education Loans Board, by crossed cheque, bankers draft, direct transfer/standing order/EFT or cash deposit to HELB collection A/C in any of the following banks:
Electronic Funds Transfer (EFT)
Kenya Commercial Bank
1103 266 314
SWIFT CODE : KCBLKENX
035 000 024 971
Family Bank Towers
SWIFT CODE : FABLKENAXXX
011290 612 228 00
SWIFT CODE : KCOOKENA
077 501 8216
SWIFT CODE : BARCKENX
Standard chartered Bank
010 801 826 4700
SWIFT CODE : SCBLKENX
055 029 357 3408
SWIFT CODE : EQBLKENA
National Bank of Kenya
010 016 039 1100
SWIFT CODE :NBKEKENX
300 040 012
SWIFT CODE : CITIKENA
0332 084 215 001
SWIFT CODE : SBMKENA
NCBA Bank Kenya
1002 247 638
SWIFT CODE : CBAFKENX
Jamii Bora Bank
1174 852 7001
SWIFT CODE : CIFIKENAXXX
Diaspora Repayment Methods
You can make payments instantly from the US and Canada through Wave via KCB account number 1103266314.
Go to www.sendwave.com to update/download the app and then make transfers immediately.
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