These loans are for students joining public or private universities within the East African Community directly from high school either through the Joint Admissions Board (JAB) or as self-sponsored. Amounts awarded range between 35,000 minimum and 60,000 maximum based on the level of need.
The loan attracts interest of 4% P.a and the students are required to repay their loans on completion of their studies. Students are advised to apply at least one month before the opening date to allow ample time for processing and remittance. The application period is January to July every year.
Management of HELB loans
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
Repaying your student loan
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 leave your course which will reduce your balance earlier.