Higher Education Loans Board (HELB) provides financial assistance to students in Kenya to pursue higher education.
However, for those who are studying abroad or have moved overseas after completing their studies, repaying the loan can be a challenging task.
In this article, we will explore different strategies and methods to repay HELB loan while living abroad.
From understanding the repayment process to exploring various repayment options, this guide will help you navigate the complex world of student loan repayment while living outside Kenya.
What is HELB?
The Higher Education Loans Board (HELB) is a government agency in Kenya that provides financial assistance to students pursuing higher education.
The board was established in 1995 under an Act of Parliament and is responsible for the management and disbursement of loans, bursaries, and scholarships to eligible students.
HELB provides loans to students who have been admitted to accredited institutions of higher learning in Kenya, both public and private, for courses that are recognized by the Commission for University Education (CUE).
The loans cover tuition fees, accommodation, and other related costs of studying.
HELB has different loan categories, including undergraduate loans, postgraduate loans, and TVET (Technical and Vocational Education and Training) loans.
The amount of loan given depends on the level of study, the cost of the course, and the financial need of the student. The loans are repayable after a grace period of one year after graduation or completion of studies.
How to repay HELB loan while in diaspora
There are several methods that people living in diaspora can use to repay HELB loans.
To repay your HELB loan using Wave, follow the steps below;
Using this method, payments can be made instantly from the US and Canada through via HELB KCB Account Number 1103266314.
- Go to www.sendwave.com and make the transfer.
- Forward the Wave email notification and your ID number to firstname.lastname@example.org.
2. World Remit
To repay your HELB loan using World Remit, follow the steps below;
- Log in to www.worldremit.com.
- Select the ‘Bank Deposit’ service from the blue ‘Send to’ box on the page.
- Choose whether to make the transfer to a Kenyan shilling or US dollar account.
- Enter the amount you want to transfer.
- Enter recipient’s details KCB Account Number 1103266314.
- Pay online using a credit or debit card.
- Use your ID number as the reference.
- You will receive an SMS and email notification once the transfer is complete.
- Forward the email notification to email@example.com.
3. HELB Portal
To repay your HELB loan using the HELB portal, follow the steps below;
- Register an account with HELB online portal. If you have one, proceed to log in.
- Once logged in, click on Online services then the Online Payment menu.
- Enter your National ID number as your account number.
- Enter the amount you are paying and click Pay Now.
- Once the payment is successful, a payment acknowledgement will be issued.
- HELB will issue an official receipt for the payment.
Tel: +254 711 052 000
Email : firstname.lastname@example.org
HELB loan interest charged
Applicable interest is 4% per year and an annual ledger fee of Ksh 1,000.
HELB monthly penalty
HELB’s monthly penalty is 5% per month.
All student loans deducted by employer must be remitted to HELB by the 15th day of the following month.
Failure to remit or delayed remittance may attract penalties of 5% per month.