Many students attending the university will require funding from the Higher Education Loans Board (HELB) because they cannot afford to pay for the tuition. These are students attending public and private universities. These students are current taxpayers (consumption taxes, e.g. VAT and Domestic Excise duty0 and future income tax payers. The students also need a PIN to open bank accounts.
Applying for a HELB loan is a straightforward process, but many people have problems applying. But you need a phone or a computer because the application is done online. You will also need access to the internet. You can follow these eight steps to successfully complete for your HELB application.
Step 1: Confirm Eligibility
It is not every university student who qualifies for the HELB loan. To qualify for a HELB loan, you must meet the following requirements:
- Be a Kenyan citizen – proof of citizenship is a birth certificate, national ID or passport.
- Have an admission letter to a recognised university or college. There i a list of the universities and colleges that qualify.
- Be a first-time or continuing student in need of financial assistance- undergraduate, masters and PhD students.
- Have a National ID card
Step 2: Create an Account on the HELB Portal
All loan applications are done online through the HELB student portal. However, you must set up an account. Here is how to register:
- Visit the HELB website HERE.
- Click on Student Portal and select Create Account.
- Enter your details, including your National ID number and current email address that you have access to.
- Create a secure password which you can remember and complete the registration process.
Step 3: Fill Out the HELB Loan Application Form
Once registered, log in to your account and complete the loan application form. Provide accurate details otherwise the application will not b successful. The details include:
- Personal information (name, ID number, contacts)
- Academic details (university/college name, course, year of study)
- Parent/guardian information
- Bank details (where funds will be disbursed)
Step 4: Download and Print the HELB Loan Application Form
After filling out the loan application form, download and print two copies of the form. Ensure that all your details are correct before proceeding. Some of the information will be checked against the information available from government sources.
Step 5: Attach the Required Documents
You will need to attach several documents for your application to be successful. The following documents must accompany your application:
- Copy of your National ID card
- Copy of your parent’s/guardian’s National ID card
- Copy of your admission letter from your university/college
- Copy of KCSE and KCPE result slips or certificates
- Passport-size photograph
- A completed and signed bank details form
Step 6: Get the Required Signatures
A HELB loan is a loan like any other. Since you do not have collateral to give to HLB for the loan, you will need people who can vouch for you that they know you and you are a student. Thesse people will help you get the loan.
Currently, the following individuals must sign your loan application form:
- A commissioner of oaths (lawyer)
- Your parent/guardian
- A religious leader, chief, or local administrator
Step 7: Submit Your Application
Once all documents are ready, it is time to submit your loan application to HELB offices. You can also submit it at Huduma Centers which are located nationwide. Remember to keep a copy for reference. You can also keep another copy to make sure that you will at any time have all copies.
Step 8: Track Your Application Status
After submiting the loan aapplicaaion, you can check the progress of your loan application by logging into your HELB student portal laaer. The submission status will indicate whether your application is:
- Under Review (being processed)
- Approved (loan amount allocated)
- Disbursed (funds sent to your account and university)
Frequently Asked Questions About HELB Loans
1. How long does it take for HELB to process a loan?
The HELB loan processing takes about 4-6 weeks after the application deadline. It is importaan to ensure tha you apply early to avoid delays or miss out on loan allocation.
2. How much money can I get from HELB?
The amount of loans varies depending on your financial need. Currently, first-time applicants can receive between Ksh 35,000 and Ksh 60,000 per year. Note that this figure may be increased or decreased. Hence, check the amount of threshhold when applying.
3. How do I repay my HELB loan?
Repayment of th HELB loans starts one year after completing studies or upon securing a job. Payments can be made via bank deposits, M-Pesa, or salary deductions. Over the years, many past recipients of HELB loans have repaid it.
4. What happens if I fail to repay my HELB loan?
There aare loan recipients who fail to repay tthe HELB loanss. Defaulters are charged a penalty of Ksh 5,000 per month. This amount can accumulate fast. It is advisable to start repaying the loan early to avoid accumulating debt.
5. Can I apply for a HELB loan if I am in a private university?
Yes. HELB provides loans to students in both private and public universities that are recognised by the Commission for University Education (CUE).
Final Thoughts
If you are a student in need of financial aid, following the right procedure for the HELB loan application can help you secure funding for your studies. Always apply on time and provide accurate information to increase your chances of approval.
More students can complete their education with proper funding and contribute to the nation’s growth. As a student, know that it is your right to apply and receive education funding – a loan that you will repay later.
