Have you ever thought about what life without HELB would be like? Yeah, it would stink. Time and time again, HELB has proven to be a lifesaver for many University and College students in Kenya. The Higher Education Loans Board (HELB) is the organization behind these educational loans in Kenya. HELB was created in 1995, based on a law called the ‘Higher Education Loans Board Act. It is a state corporation in the Ministry of Education that operates under the Ministry of Education. HELB’s primary goal is to help students who can’t afford education by providing financial assistance. In this article, I will take you through the HELB Loan Application Form and everything you need to know about HELB.
Importance of HELB Loans for Higher Education
HELB is a government-owned statutory body that is very important to Kenyan society regarding education. Below is why every Student in Kenya needs help with his education:
Missing out on education simply because there are no funds to sponsor your education should not be an excuse. HELB loans significantly reduce the financial burden on students and their families, making higher education more accessible. By providing financial support, HELB is essentially investing in the country’s future; as more people become educated, the overall literacy level increases, leading to more problems being solved. The availability of HELB Loans and financial support encourages more students to pursue higher education, leading to an educated population in the country.
As you can see, HELB is of much more importance than you thought. Access to various loans is available through the official HELB portal.
HELB Loan Application Process for 2024
And now, to the juicy part of this article: if you are questioning whether you should apply for HELB, you can honestly answer that answer. However, if you want to apply for an education Loan and need help figuring out where to start, here is how to go about it. You can easily apply for a HELB loan online without going to a cyber cafe. The HELB Loan application process begins with downloading and printing the 2024 HELB Loan Application Form. You can access the application form on the HELB Portal free of charge.
PLEASE note that there are various types of HELB Loans; thus, ensure you get the correct application form document. Different forms are available for applicants, including undergraduate students, graduate students, and working professionals. After filling out the form, submit it with the necessary documents on the website. Next, officials will check your application. If approved, they will send the loan money to you.
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Types of HELB Loan and Application Forms
As a first applicant, you need to know that different types of loans are available and the respective application forms. The various types of Loans range from Jielimishe Loans, Undergraduate Loans, and TVET Loans. Here’s a complete understanding of the types of loans and the respective application forms:
- First-Time Undergraduate Loan Application Form: This form is for undergraduates applying for a HELB loan for the first time. It covers tuition fees and related expenses to help students kickstart their university education. Loans in this category attract an interest rate of 4% and a Kshs 1,000 ledger fee annually.
- Tvet Loan / Bursary First Time For Tertiary Institutions Application Form: This Loan is tailored for students of tertiary institutions( TVET colleges and Polytechnics). The application form in this category is meant to serve any student seeking financial aid through loans or bursaries for their vocational training programs.
- HELB Postgraduate Scholarship Application Form: Postgraduate students needing financial support for their Master’s or PhD studies can apply using this form. Scholarships offer Kshs 200,000 for Masters and Kshs 450,000 for Ph.D. studies. Masters scholarships last two years, and Ph.D. ones last three years.
- First Time Afya Elimu Loan Application Form: For those students pursuing health-related courses in Kenya and need financial support, then you might want to consider this type of Loans
Printing HELB Loan Application Form 2024
Now that you have identified which types of loans suit you best, downloading and printing the HELB Loan Application Form is the recommended stage. The process is straightforward but requires careful attention to capture all details accurately. Here’s a step-by-step guide on how to go about it:
- Login to HLEB Portal: If you do not have an account, you must create one. If you have one, log in with your correct details.
- Selecting the type of loan: Under the application section, choose the type of loan you want to apply for. This should correspond with the loan application form you intend to fill out.
- Filling up the application form step by step: The form is divided into several sections, each requiring specific information. It’s crucial to fill out every detail accurately to avoid delays in processing your loan.
- Submitting the application form: Once you fill out all the necessary sections, review the information, then submit your application. Ensure that you adhere to the submission deadline to qualify for the loan.
- Downloading and printing the PDF form: After submission, download a copy of the filled-out application form in PDF format. Print two copies, one for your records and another for request, to the relevant HELB offices or designated Huduma Centers.
HELB Loan Application; Step-by-Step Guide
To get a HELB Loan to your Bank account or Mpesa wallet, the process starts with you applying for the loan. How can you achieve this yourself? Here is how to do it yourself;
STEP 1: Registration on the official HELB portal
The first step towards applying for a HELB loan is creating an account on the official HELB portal. Visit hef.co.ke to access the Student Portal and click “register” to create an account. Ensure that the details match your official documents to prevent issues during the application process.
STEP 2: Filling up the HELB Financial Literacy guide
Once registered, you must complete the HELB Financial Literacy guide on the HELB portal. This guide is crucial as it provides essential information regarding financial management and the responsibilities entailed in receiving a HELB loan.
STEP 3: Filling the 2024 First Time Undergraduate Loan Application Form (LAF)
After completing the Financial Literacy guide, it’s time to fill out the Loan Application Form (LAF). The application form will require your Profile Information, Institution Details, educational background Details, Expense Details, and Guarantor Details. This is a critical stage to ensure that you fill out the form correctly to stand a chance of getting the loan.
STEP 3:Printing, signing, and submitting the Loan Application Form
Once you’ve completed the form, print two copies of the duly filled Loan Application Form. Take the form to the relevant authorities and guarantors for filling, stamping, and signing. Retain one copy for your reference and submit the other to the designated submission centres.
HELB Loan Application Deadline 2024
Undergraduate Scholarship, Loan & Bursary (First Time Application): 6th September, 2023
Undergraduate Loan (Subsequent Application): 28th September, 2023
Tracking the Status of Your Application HELB Loan
After submitting your HELB Loan Application Form 2024, it’s crucial to keep track of its status to ensure it’s being processed. Here’s how you can do it:
Option 1: Online Tracking
- Visit the HELB website and navigate to the student portal.
- Log in using your credentials.
- Click on “loan status” to view the status of your application.
Option 2: Mobile Tracking:
- Dial *642# on your mobile phone.
- Follow the prompts to view your loan application and disbursement status.
HELB Loan Disbursement Details
Once your loan application is approved, the next step is to monitor the disbursement of funds. You can do this through the HELB portal or mobile USSD code as outlined above. In the portal, after logging in, click on “Disbursement” to view the amount awarded and the date disbursed.
HELB Loan Repayment Process
Repaying your HELB loan starts within one year of completing your studies or earlier if the board recalls the loan. You can make voluntary payments before or after your studies to reduce your loan balance. HELB offers various local repayment methods, including:
Option 1:Mobile Payment via M-PESA:
- Select the pay bill option and enter the HELB business number as 200800.
- Enter your national ID number as your account number, the amount you want to pay, and your secret PIN, confirm the transaction, and send.
Option 2:Bank Deposit:
- Payments can be made to the Higher Education Loans Board via crossed cheque, banker’s draft, direct transfer, standing order, EFT, or cash deposit to HELB collection account in various banks detailed on the HELB Local Repayment Methods page.
Additionally:
| Bank Name | Account Number | Bank Branch | Electronic Funds Transfer (EFT) Swift Code |
|---|---|---|---|
| KINGDOM BANK | 11748527001 | Koinange street | CIFIKENAXXX |
| NCBA | 1002247638 | NCBA House | CBAFKENX |
| SBM | 0332084215001 | Delta House | CKENKENAXXX |
| FAMILY BANK | 035000024971 | Family Bank Towers | FABLKENAXXX |
| NATIONAL BANK OF KENYA | 01001060391100 | Harambee Avenue | NBKEKENX |
| EQUITY BANK | 0550293573408 | Equity Center | EQBLKENA |
| STANDARD CHARTERED BANK | 0108018264700 | Koinange street | SCBLKENX |
| KCB BANK | 1103266314 | University-way | KCBLKENX |
| ABSA BANK | 0775018216 | Absa Plaza | BARCKENX |
| CO-OPERATIVE BANK | 01129061222800 | University-way | KCOOKENA |
| CITIBANK | 300040012 | Nairobi | CITIKENA |
Conclusion
Applying for a HELB loan is a straightforward process once you understand the steps involved. In this article, we have shown you a detailed guide on the HELB Loan application form and what to do after submitting your HELB Loan, including tracking your application, understanding loan disbursement, and starting the repayment process. We hope the article has answered all the questions that you were finding.
