Do you want to apply for a HELB loan? Are you a student and don’t know how to apply for HELB loan the right way? Are you worried that your helb loan application may be rejected?
Do you want to know how to successfully apply and secure the maximum amount of helb loan you want?
Yes we know most students don’t know how to apply for HELB loans and sometimes their loans are rejected or they are accepted but awarded little amounts.
That’s why we have prepared you a guide on how to apply for HELB loan and get approved.
Also we have included here proved tips that will make your application successful.
But first what is HELB?
What is HELB
The Higher Education Loans Board (HELB) is a state owned cooperation that is responsible for funding students in institutions of higher learning through loans.
Apart from loans HELB also awards bursaries and scholarships to needy students who are Kenyans. Whether you are government sponsored or self-sponsored you can apply for HELB and get accepted.
The process of applying for HELB loan for the first time (called first time HELB application) is done online via the helb portal.
However one needs to download and print dully filled forms for signing and submission to relevant persons.
Helb loans are awarded to students in both public and private institutions annually. Helb awards a maximum of ksh.60,000 and a minimum of ksh.35,000 in loans.
In this guide we show you how to apply for HELB loan and successfully get awarded the amount you want.
Tip 1: Your chances of getting approved for Helb loan are higher if you have filled your form correctly and provided correct details.
Who is eligible to apply for Helb Loan?
To be eligible for a loan from the Higher Education Loans Board, you have to be a Kenyan citizen over the majority age of 18 years.
Similarly you also have to be admitted to a recognized institution of higher education to a full time course within the East African community.
Helb application loan requirements
Before proceeding to apply for the loan, make sure you have the following as they are required.
- A copy of your national Identity Card.
- Copies of the parents’ National ID Cards or copies of death certificate where the parent is deceased.
- Proof of retirement if parents are retired.
- Names of atleast two guarantors and copies of both guarantors’ National ID Card
- A copy of the your admission letter to university/college.
- Your KCSE and KCPE result slip/certificate
- A copy of Bank ATM/Bank card (for Government sponsored students only)
- A copy of the your Smart Card from the institution you’re in/joining.
- Colored passport size photographs that have been taken recently.
- A KRA pin number. If you don’t have one already check this guide on how to apply for KRA pin number.
Kudos! If you have all these requirements upto here, you are good to go.
Tip 2: Equity Bank and KCB bank are the best when it comes to processing Helb funds. However you can use any other bank of your choice.
How to apply for HELB loan
- Visit the Higher Education Loans Board website www.helb.co.ke to access the Student Portal and click on “create an account” to register or access it here
- Once the account is created, log in and select the appropriate Undergraduate First Time Loan Application Form [LAF].
- Read the literature or view the videos on Financial Literacy. After that you’ll need to fill the brief exercise online. It’s just a simple test to ensure you understand how helb works.
- Access and fill the loan application form.
- Print TWO copies of the duly filled Loan Application Form using the “print” section.
- Have the forms appropriately filled then take then for stamping to relative authorities as required.
- Sign your dully filled forms and attach all relevant documents. Use the checklist on the last page(s) of the LAF to check the required documents.
- Retain one copy of the dully filled and signed Loan Application Form and present the other copy at:
- Any of the following Huduma centers nearest to you: Bomet, Bungoma, Chuka, Eldoret, Embu, Garissa, Nairobi GPO, Kakamega, Kericho, Kilifi, Kisii, Kisumu, Kitale, Kitui, Lodwar, Machakos, Makueni, Meru, Migori, Mombasa, Murang’a, Nakuru, Nandi Narok, Nyeri, Taita Taveta, Thika and West Pokot for free and secure delivery; or
- HELB Student Service Centre on Mezzanine 1, Anniversary Towers, University Way, Nairobi
Tip 3: It is a mandatory HELB requirement that you remain with a copy of the loan application form when applying for HELB loan for future verification and needs.
How much Helb loan you will get.
As stated earlier, helb awards a minimum of ksh.35,000 and a maximum of ksh.60,000 to successful applicants.
This amount is charged an interest of 4% every year. (Update: HELB is looking to review this rate)
The amount awarded to you is split into two; some goes to tuition for and the rest sent you as upkeep money. Yes, helb knows you need pocket money!
Tuition fee, which is usually about ksh.4000 is sent directly to your institution while the upkeep fee is sent to your bank account for you to withdraw. That is why you need an active bank account when applying for HELB loans.
Note: For self-sponsored students, the money is sent directly to your institution as tuition fee.
Tip 4: HELB also awards bursaries of between ksh.4000 to ksh.8000 to needy government sponsored students.
The amount of bursary awarded depends on the maximum amount of loan you have been approved for bursary is paid to your university and you don’t need to repay it back.