Terms and Conditions
ENTRY AND EXIT REQUIREMENTS FOR HELB LOANS
This Higher Education Loans Board welcomes you to download your loan application form for the 2013/2014 Academic year. The Board offers loans for both postgraduate and undergraduate studies. These loans must be paid immediately after completing your studies or at any time when the Board may decide to recall its loans. It also offers scholarships and bursaries.
Postgraduate loans and Continuing Education loans are serviced immediately they are disbursed. Undergraduate loans are intended to help needy students whose parents have little or no income. Students whose parents have a reliable family income need not apply.
All loan applications are subjected to stringent background verification and those found to have given false information are penalized as per the HELB Act 1995.
- Loans for undergraduate direct entry students is available at 4% p.a
- Loans for postgraduate [masters and PhD] and continuing education students is available at 12% p.a
- Scholarships for postgraduate students – awarded on academic merit
- Bursaries for needy undergraduate students
Conditions for award/eligibility for undergraduate loans
- Students in Public Universities admitted by JAB [Joint Admissions Board]
- Students enrolled in self-sponsored programs in Public Universities
- Students in Chartered Private Universities with a C+ and above in KCSE
- Continuing Education Students
- Not older than 30 years. DELETE
Conditions for award/eligibility for Postgraduate loans/Continuing Education Students.
Open to all Kenyans who are able to service the loan immediately upon disbursement through a check-off system.
The Board charges an application fee for all its loan and scholarship forms. Postgraduate and Continuing Education Students are charged upfront while for the undergraduates it is loaded on the loan and paid when the loan matures.
Loan application forms
The following forms are available on our website www.helb.co.ke
- Continuing students (in 2nd, 3rd year, etc) Form - this group will submit their forms through their Deans of Students.
Others to follow soon:
- Direct Entry Form- this should be filled by students joining university directly from high school through JAB or self sponsorship. You are required to submit your form through your bank for onward submission to the Board.
- Postgraduate/Continuing Education Loan Form- to be filled by both Postgraduate and Continuing Education Students.
Obligations of an applicant
A student must ensure the form is dully filled before submitting it to HELB. There is a checklist provided at the back of the form. Students are advised to make a copy of the form before submitting it to the Board. After the loan is awarded the students must ensure that any changes or discrepancies in personal details are communicated as soon as possible. This will help in eliminating errors during disbursing or posting in the loan book.
Use of HELB loans and bursaries
Students are advised that the loans should be used mainly for;
- Books and stationery
- Accommodation and subsistence.
Students are advised to desist from diverting the funds to leisure or other family obligations.
Disbursement of Loans and Bursaries
Loans for regular (JAB) students are disbursed in two installments scheduled at the beginning of each semester to their student’s accounts while the tuition (ksh.8000.00) is deducted from the loan and paid to the university. Loans to self sponsored and private university students are paid in one installment to the university.
Attachment/Teaching practice allowances are paid at the beginning of the attachment. Bursaries are paid in one installment immediately after award.
Loans and Bursary amounts
Award of loans is based on student’s level of income, family status and record of fees payment in High school. The loans range from 35000 - 60,000.00 based on individual socio-economic background
Number of Applications/Deferments
- Loans are disbursed for the official duration of the course. If a course takes 4 years to complete, HELB will support beneficiaries for ONLY 4 years. No extra funding will be given to students who extend their studies for any reason.
- If during the course of study, a student is discontinued, HELB halts financial support to the student.
- In case an applicant incurs an Inter-University/Faculty transfer after 1st year, they MAY be required to repay in full the loan amount granted them during the 1st year, before additional funding can be considered.
If a student defers his/her studies, so that it will not be possible to complete studies within the duration of the course, HELB will NOT support the student during the rest of the course
This is for students who do not get adequate loan or whose circumstances change after loan application. There is a special form for such appeals available on the website. Appeals are launched within the first three months of a new financial year but not after October of the year.
Suspension/cancellation of loans
A loan can be suspended or cancelled due to any of the following reasons:
- Suspension or withdrawal from university
- Data entry errors
- Extension of studies due to deferment or repeating.
A student whose loan is suspended due to false information will not qualify for any subsequent loans. A student whose loan is cancelled due to other reasons is usually given an avenue to present their cases.
Ways of checking loans
1) Website – Visit the Board’s website
2) SMS – Send an sms to 5556 to either Safaricom or Zain network as follows:-
- Type helb, space, id number –send do 5556
3) Deans of Students’ Office or students finance offices in the universities
4) Interactive voice recorder [IVR] as follows:-
- listen to voice prompt
- input your ID card number [e.g. 12345678]
- press #
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.
The loan is repayable within 60 months.
Obligations of Loanees
A loanee is required within one year of completion of his/her studies:
- to inform the Board of his/her contact address
- to begin repayment of his/her loan together with any interest accrued thereon
- If he is in formal employment, to authorize his employer to deduct the loan repayment and to remit it to the Board in such a manner as the Board may direct.
Failure of which he/she will be guilty of an offence and liable to a fine of not less than five thousand shillings in respect of each loan deduction that remains unpaid.
Obligations of Employers
- Upon employment of any loanee to inform the Board in writing within a period of three months of such employment, failure to which the employer shall be guilty of an offence and liable to a fine of not less than three thousand shillings for each month, or part of the month that he fails to notify the Board of such employment.
- Upon confirmation that such a person so employed is a loanee, to deduct from the loanee’s income and remit the same to the Board within 15 days after the end of each month failure to which the employer shall be charged a sum equal to five percent of the total amount of the repayment.
The loan matures immediately upon disbursement and is repayable within 48 months.
A loanee is discharged of his liability to the Board and entitled to a clearance certificate:
- Upon full repayment of the loan , interest together with fees charged
- Upon the Board exercising its discretion to waive the said loan for reasons of:
- Consideration of hardship or equity
- Impossibility or undue difficulty, or where the expenses to be incurred in the recovery of the loan are in excess of the amount to be recovered.
Civil proceedings under HELB Act for recovery are exempted from the provisions of the Limitation of Actions Act.