Higher Education Loans Board (HELB)
Undergraduate Students and Postgraduate Students in Kenya are eligible for HELB loans
HELB enhances equity in higher education by awarding loans and bursaries to needy Kenyan students.
The Board’s objective is to give financial support to needy Kenyan students in institutions of higher learning both locally and abroad. However, due to financial constraints, it is currently not in a position to provide loans to students studying outside the country and those on self sponsored programmes (commonly known as the ‘parallel programmes’). Therefore, at the moment, it gives loans to the following category of students
Needy Kenyan students who are admitted to public universities through the Joint Admissions Board and to those attending private chartered universities.
In accordance with the current cost sharing policy, a student is required to pay Kshs.50,000/- per year to train at a public university. Out of this amount, HELB can award a maximum loan and bursary of Kshs.55,000/- and Kshs.8,000 respectively.
How to Apply
HELB places advertisements in the print media in which it invites applications for loans. Applications are usually received in the last quarter of the year (i.e. between October and December).
The Board maintains a deadline and those applications received after the deadline without justifiable reasons are not processed.
Loan application forms are also obtainable from the District Education Officers for students applying for loans for the first time while continuing students may obtain the forms from the offices of Registrars or Deans of Students in the various universities
The forms must be filled with accurate and truthful information
Duly filled forms should be either hand-deliverd or sent by registered mail to:
HIGHER EDUCATION LOANS BOARD
Anniversary Towers, 18th Floor,
University Way, P.O. Box 69489 00400
Tel: 251877/246590/1, Fax: 252330
When are loans released
HELB releases loan results before the new academic year starts and their accounts credited before the beginning of each Semester. Thereafter, students who fail to secure a loan or are awarded inadequate amounts are encouraged to appeal. Each appeal is reviewed on its own merit.
Students are advised to open accounts in the following collaborating banks:
Kenya Commercial Bank
National Bank of Kenya
Kenya Post Office Savings Bank (Postbank
Cooperative Bank of Kenya
To achieve this goal the Board awards loans to about 200 postgraduate students every year i.e. for Masters and Doctoral Studies. Doctoral students are awarded on average Kshs. 150,000 per year while Masters students receive Kshs.80,000/= [for humanities] and Kshs. 100,000 [for science based subjects].The loans are available to students in both public and private chartered universities. The loans are advertised in June every year and the beneficiaries are announced before the beginning of the academic year in September.
A nominal fee of Kshs 2,000 is payable by each applicant.
All loanees 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).
Currently those who graduated between 1974/75 and 1994/95 academic years repay their loans at an interest rate of 2%. Those who took loans from 1995/96 academic year to date are repaying their loan with an interest rate of 4%.
Access the HELB website http://www.helb.co.ke