Higher Education Loans Board (HELB) continues to assist thousands of Kenyan students by offering loans affordably and conveniently. Through the process, many students can complete their studies. Hence, this article will explain the process of how to apply for HELB in Kenya.
How does HELB work?
HELB is a government institution whose mandate is to assist students to finance their education by offering various loans and grants.
The institution offers loans both to students in various universities (private and public) and colleges across the country. These loans are based on set limits and attract an interest rate of 4% annually. The amount you qualify depends on the appraisal process.
Types of HELB applicants
First Time Applicants-These are students applying for HELB loans for the first time
Subsequent applicants-These are students who already did the first application. This applies to continuing students and the number of applications is based on the course duration.
The application process and requirements are different for both of these two types of applicants. Below are the requirements for a first-time applicant.
- National Identity Card copy
- School admission letter and KCSE results slip
- Parents’ Identity cards copy
- Guarantor identity cards copy
- Colored passport photo copy
- Filled application form
- Bank account details
How to Apply for HELB in Kenya by First-Time Applicants
Step 1: Visit the Help portal and create an account on the Student portal. After logging in, you should visit the first loan application menu.
Step 2: Participate in the available financial literacy exercise. This ensures you have some financial knowledge to help in managing the funds.
Step 3: Fill in the loan application form and print 2 copies
Step 4: Have the form filled and stamped by all the relevant authorities as stipulated. Some of these include your local chief and religious leader.
Step 5: Drop the filled form together with the required documents at any HELB office near you. This includes the various Huduma centers across the country.
Step 6: At this point, you should wait for HELB to review your application. If successful, funds are credited to the bank account.
How to Apply for HELB by Subsequent Applicants
Subsequent means you have already done the initial process during the first-time application. Hence the process is simpler and online.
Step 1: Download the HELB app and register your details. Some of these include the phone number, Identity card number, KRA pin, and Email address. To verify your phone number, you are required to pay 1 shilling through M-PESA to confirm if they match.
Step 2: Undertake the financial literacy exercise to proceed to the next stage.
Step 3: Proceed to click the subsequent loan applicant menu. You should then fill in your application details as per the form. This process is online and hence all applications will be submitted on the portal.
Step 4: Wait for the HELB to review your application. If successful, they will proceed to credit funds to your account.
It is also good to note that HELB Loan is a credit facility. Hence, upon completion of your studies, you are required to pay it fully together with any accrued interest and penalties.