When applying for a HELB loan, there are several steps you need to take to be sure you are getting the best possible deal. You’ll also need copies of your parents’ ID cards and your proof of retirement. In some cases, you’ll need to submit a Smart Card from an educational institution. Finally, you’ll need recent passport-size photographs and a KRA pin number. You can use any bank to obtain this information.
HELB loan amount is split to cater for tuition fee and upkeep
The Higher Education Loans Board (HELB) provides loans for students who are enrolled in a Kenyan college or university. This loan attracts a fixed interest rate of 4% per annum. The money is meant for education but the borrowers also have to fulfill family obligations.
The HELB loan amount can be between Sh40,000 to Sh60,000. The loan amount is divided between the two major expenses – tuition fees and upkeep. The HELB loan amount is usually split to cater for tuition fees and upkeep. Government sponsored students receive 4,000 shillings each semester while self-sponsored students get the rest of the money.
Repayment of HELB loan
If you are a beneficiary of the HELB Loan, it is your responsibility to repay the loan in a timely manner. This is essential so that future students can also benefit from the funding. HELB offers a number of ways to keep track of your loan balance. These options include SMS and online.
The quickest way to repay your HELB loan is to repay it by the 15th of the following month. However, if you can’t make the deadline, you should pay it within the month. If you miss this deadline, you will be assessed a Ksh 5000 penalty for every month that you fail to repay the loan. You can make your repayments using Mpesa, which is fast and secure. It will also give you an opportunity to build your credit history.
You can also authorize HELB to make your payments by debit or credit card. To do this, you need to complete a credit card authorization form and forward it to HELB. You can also swipe your VISA debit or credit card at the HELB office.
Are you a Kenyan citizen between the ages of 18 and 34 years old? Are you in need of financial assistance to further your education? If you meet these qualifications, you may be eligible for a Higher Education Loans Board (HELB) loan.
If you are interested in applying for a HELB loan, you must first complete an application form. This form can be obtained from the HELB website or from any HELB office near you. Once you have completed the form, you will need to submit it along with the following documents:
– A Kenya Revenue Authority (KRA) PIN certificate
– A recent passport-size photograph
– A copy of your national ID or passport
– Official transcripts for all examinations you have taken
– A letter of admission from your chosen institution
Once your application has been received, it will be reviewed and you will be notified of the decision by mail. If approved, the loan amount will be deposited into your account and you will be given a loan agreement to sign. This agreement outlines the terms and conditions of the loan, including the repayment period and interest rate.
If you have any questions about the application process, you can contact the HELB Call Centre at 0709 188 000 or visit any HELB office near you.