Helb loan allocation and disbursement – Complete Guide
Helb loan allocation and disbursement Guide.
HELB enhances equity in higher education by awarding loans and bursaries to needy Kenyan students. The Higher Education Loans Board (HELB) awards loans to students in institutions of higher learning to fund their education i.e. those students’ joining University as JAB or Self-sponsored.
This loans are not automatic and have to be applied for. Amounts awarded range between 37,000 minimum and 60,000 maximum based on the level of need.
The loan attracts interest of 4% p.a and the students are required to repay their loans on completion of their studies.
Students are advised to apply at least one month before the opening date to allow time for processing and remittance.
The application period is January to July every year.
HELB PRODUCTS
- Loans – Repayable sum of money
- Bursaries – Non repayable/ monetary grant- There is no separate application for this bursary but qualification for it depends on the information provided on the HELB application form.
HELB therefore awards bursaries to the following:
- Extremely needy students who benefit from loans;
- Orphans;
- Students from single parent;
- Families and others who come from poor backgrounds will be given priority for the bursaries.
- 3. Scholarships – Financial aid
- Managed funds – External resources mobilized from partners e.g. County governments, constituencies, K.R.A, ABSA Bank & other institutions. HELB manages these funds.
PRODUCT CATEGORIES & ELIGIBILITY
| No. | Product Type | Eligibility | Maximum number of loans | Interest Rate |
| 1 | Undergraduate Loan | Student admitted for undergraduate courses in approved institutions of higher learning recognized by CUE. | Subject to approved course duration | 4% |
| 2 | TVET Loan | Students admitted for artisan, certificate and diploma courses in approved TVET institutions recognized by TVETA and other relevant regulatory bodies. | Subject to approved course duration | 4% |
| 3 | Jielimishe | Students admitted in recognized institutions of higher learning and approved terms and conditions | Once per year | 10% |
| 4 | Afya-Elimu Loan | Students admitted in pre-service certificate and diploma courses in approved MTCs recognized by relevant regulatory bodies | Subject to approved course duration | 4% |
| 5 | Partnership loan | Refer to the respective MoUs and Service Contracts | As per MoUs and Service Contracts | As per MoUs and Service Contracts |
UNDERGRADUATE & TVET REQUIREMENTS NEEDED TO APPLY FOR HELB LOAN
UNDERGRADUATE & TVET APPLICATION GUIDELINES
WHERE TO SUBMIT THE LOAN APPLICATION FORM
Additional Points to Note
- Tuition funds are disbursed directly to the School account
- Upkeep funds are disbursed directly to the Student’s personal account (Use your own account)
- Always ensure your Bank account number is active
- HELB sends SMS/Email notifications after each process i.e. form verification, loan allocation and loan disbursement
ALLOCATION & DISBURSEMENT BREAKDOWN
| Undergraduate Allocation Bands | Loan (Kshs) | Bursary (Kshs) | (Undergraduate) Installment | Tuition (Kshs) | Upkeep (Kshs) | |||
| Minimum | 37,000 | 4,000 | Semester 1 | 4,000 | 16,000 | |||
| Maximum | 60,000 | 8,000 | Semester 2 | 4,000 | 15,500 | |||
| PSSP | 39,500 | |||||||
| Undergraduate Allocation Bands | Loan (Kshs) | Bursary (Kshs) | (TVET) Installment | Tuition (Kshs) | Upkeep (Kshs) | |||
| Minimum | 37,000 | 4,000 | Semester 1 | 26,400 | 6,800 | |||
| Maximum | 60,000 | 8,000 | Semester 2 | 6,800 | ||||
NB: PSSP & Bursary funds are paid at the beginning of semester two in one installment Kshs.500 is retained as administrative fees, see T&Cs on the Loan Application Form (LAF)
CAUSES OF DELAYS IN LOAN PROCESSING
- If it lacks any of the required documents and signature as listed on the last page of the Loan Application Form (LAF)
- If the applicant provides untruthful information ‘#Tellthetruth’
NB: Always ensure that all details provided are accurate
Quick Details Checks before submitting the application
- Institution (University name, admission number, student category (government/self-sponsored)
- Bank name and Bank account number – use your personal account
- Education background –Correct KCSE number and KCSE year
- Parental details
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