DATA SHARING:
HELB is in possession of extensive historic and current data of students in higher education, at university level and other cadres such as TVET, middle level medical courses, legal and maritime. Funders with an interest in supporting needy students therefore have an easy way to access their cadres of interest. This data can be delineated in terms of gender, disability, region, orphans, single parents etc.
BRANCH NETWORK AND CONTACT CENTRE:
HELB is present in 28 Huduma Centers spread around different parts of the country. This helps in availing HELB services at the grass root level. Fund partners can therefore leverage on this network to expand their reach across the country. HELB also has a ful- ly-fledged Contact Centre handling calls, social media, and email correspondence. This ensures that customer queries are well ad- dressed and provides a value add that prospective fund partners can ride on in rolling out their products.
TRANSPARENT ONLINE APPLICATION:
The students apply online and can therefore access the form remotely from any part of the country with internet access. The online application ensures a detailed extraction of information from prospective applicants. This can be amended to suit the funders’ needs.
HELB LOANS PORTFOLIO PROTECTION:
HELB has an inhouse student loans self-protection scheme that provides credit life insurance for all disbursed loans including partner funds. This further serves to enhance the sustainability of any funds disbursed by HELB mitigating risks on partner funds.
AUTOMATED SELECTION CRITERIA:
HELB information systems allow for Mean Testing Instruments suited to the specific needs of the funders. The automated scoring system ensures automated and transparent award of loans to large numbers of applicants efficiently and cost effectively. Funders further have the option of identifying intended beneficiaries and submitting the same to HELB under fund management arrangements.
SUPERIOR RECOVERY MECHANISM:
With 27 years of experience in debt management, HELB has the requisite systems to ensure effective recovery and sustainability of funds. HELB recovery mechanism is backed by law and terms HELB loan repayment as statutory payments. This therefore compels all employers in Kenya to comply to deduction and remittance of loan deductions. HELB further works with strategic partners such as KRA, NHIF, NSSF to trace loan beneficiaries and ensure optimal recoveries. Fund partners therefore leverage on HELB’s debt management capabilities and relationships to secure sustainability of their funds.
STUDENT FINANCIAL LITERACY PROGRAM:
HELB has put in place strengthened systems to ensure that funding goes directly to the deserving students. Students are also sensitized through a financial literacy program on what receiving a repayable loan entails. Since Financial 2015/2016 a student is not able to apply for a HELB facility unless they go through the Financial Literacy program which is accessible on the Student Portal in both video and PDF format. This is important as these are young people who have recently completed high school. They are complete rookies, and for most of them, this is the first time they have a significant amount of money to manage for themselves. This customer education is key to be able to support us through the journey of transparency.
JOINT RESOURCE MOBILIZATION:
With the extensive experience in resource mobilization, HELB works with fund partners to raise additional funds for their kitties to meet any growing demand from their target beneficiaries. HELB works with fund partners to develop proposals, engage in donor mapping, and also participate in fund raising activities to boost the capital bases of these funds. This helps to lessen the funding burden on HELB fund partners.
FUND GOVERNANCE STRUCTURES:
A Technical Working Group (TWG) comprising of representation from the fund partner and HELB is involved in the appraisal and approval of the target beneficiaries. The TWG makes critical deci- sions pertaining to the opening of the loan applications, setting the award criteria, approving disbursements, and providing key deci- sions relating to debt management. This provides proper visibility for partners on the fund operations. Further, HELB provides de- tailed reports and holds meetings at least every quarter to ensure accountability of the fund.
INFORMATION SHARING:
HELB participates in information sharing with partners that encompasses transfer of knowledge, expertise, data to ensure value adding partnerships.