HELB Loan was established with the aim of not just recovering all matured loans, but to raise sufficient funds to meet the rising loan demand and attain faster turnaround in loan repayments. Repay HELB Loan
It consists of three tiers:
Undergraduate section, which deals with recovery of undergraduate loans
Jielimishe Loan section that is charged with the responsibility of disbursing and recovering of loans from salaried students.
Allocation section charged with the responsibility of collection and updates of loanees’ accounts.
Undergraduate Loan Repayment starts within one year of completion of studies or within such a period as the Board decides to recall the loan whichever is earlier. However, you can make voluntary payments before or after you complete your studies to reduce your loan balance.
Completion of Loan Repayment
Upon completion of loan repayment, kindly seek clearance from HELB. Please note that only HELB and not your employer can confirm your loan repayment status. HELB shall confirm loan repayment completion by issuing certificate of clearance. For clearance, please fill in the HELB Enquiry form.
If you overpay your loan, you will receive a refund from HELB and not your employer. To claim refund, please fill in the Loan Recovery Enquiry form.
Jielimishe Loans are due for repayment immediately upon disbursement. Successful applicants shall be notified via e-mail.
All loanees [HELB loan beneficiaries] are required to start repayment after a period of one year on completion of studies, or within such a period as the Board may decide to recall the loan whichever is the earlier (Section 15 HELB Act). Paying the higher education loans at an early age reduces an individual’s financial burden in midlife when one is bringing up a family, paying a mortgage as well as planning for retirement. Among other advantages of paying the loans include; reduction of the number of loans that an individual has hence avoid being blacklisted with the Credit Reference Bureau (CRB) hence one can easily get a bank loan.
To ease your repayment, the Board has developed several different modes of repayment that suits the loanees who are employed and self-employed such as check off system, mobile payment that include M-Pesa, Airtel among others.
Therefore your obligation as a Loanee under the Act is to;
Inform the Board of your contact addresses (section 15 (a) HELB Act),
Begin repayment of your loan together with the interest accrued thereon (Section 15(b) HELB Act),
Facilitate the deduction and remittance of the loan to the Board – (Section 15 (c) HELB Act).
The Higher Education Loans Board Act, 1995 demands that employers adhere to the law as stipulated below:
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