Helb Student Portal Subsequent Loan Application: How to Apply

Discover the steps to apply for a HELB student loan for the academic year 2024, including details on the application process, eligibility criteria, and loan awards.

As a student in Kenya, you’re likely aware of the Higher Education Loans Board (HELB), an integral part of the Kenyan education system.

HELB plays a crucial role in empowering students by offering financial aid, making higher education accessible to everyone, irrespective of their financial situation.

Understanding this process is vital because education represents a substantial investment in your future.

Accurate information is key to obtaining the financial support necessary to pursue your studies without excessive stress.

Additionally, staying informed about the latest application procedures can save time and prevent common mistakes.

This guide will focus specifically on the subsequent loan applications for the academic year 2024/2025.

It’s essential for both returning applicants and those new to the process to comprehend how to manage these applications effectively.

Given the increasing tuition fees and living costs, a HELB loan can significantly impact many students’ lives.

Join us as we delve into the specifics of HELB student loans and demystify the process for subsequent loan applications.

This guide aims to be a reliable resource, enabling you to move forward with the necessary financial support for academic success.

Keep an eye out as we detail the intricacies of HELB student loans for 2024/2025, equipping you to manage your educational finances with ease.

Also read – Step by Step Guide to Applying for the UP Scholarship 2024

Understanding HELB student loans
Types of HELB student loans offered
Eligibility for HELB student Loans
Guide to Applying for Subsequent HELB student Loans
Deadline for HELB student loan Applications
Scholarships, Bursaries, and Loans
Required Documentations for HELB student loans
- Financial Literacy and Loan Management
Loan Disbursement and Repayment
FAQs
Final Thoughts
References
Recommendations

Understanding HELB student loans

The Higher Education Loans Board, known as HELB, transcends the role of a mere financial institution.

Inaugurated in 1995 through parliamentary legislation, HELB has emerged as a pivotal entity in Kenya’s educational landscape.

Functioning as a statutory body under the Ministry of Education, it aims to democratize access to higher education.

Its primary function is to support students enrolled in universities, colleges, and Technical and Vocational Education and Training (TVET) institutions.

Through the provision of student loans, bursaries, and occasionally scholarships, HELB strives to ensure that financial barriers do not thwart the educational aspirations of Kenyan students.

Also read – Study Loan for International Students: how to Apply and Get it

Types of HELB student loans offered

The financial aid spectrum of HELB is notably varied, with its primary offering being loans, which are highly favored due to their relatively low interest rates.

HELB student loans are particularly popular among students for this reason.

Beyond loans, HELB also extends bursaries and scholarships, specifically aimed at students in need.

Such a comprehensive strategy allows a greater number of students to secure the essential funding required for their academic pursuits.

Eligibility for HELB student Loans

Regarding eligibility, HELB sets forth distinct criteria. Our guide concentrates on subsequent loan applications.

These are intended for students who are not first-time applicants, but rather those returning for their second, third, or fourth rounds of financial aid, contingent upon the length of their academic program.

Eligibility for these subsequent loans hinges on the student’s academic advancement and financial necessity.

It is crucial for applicants to comprehend that the number of loans for which they qualify aligns with the duration of their educational program.

For example, a student enrolled in a four-year course is eligible to receive the loan up to four times.

Guide to Applying for Subsequent HELB student Loans

HELB has streamlined its application process to enhance user-friendliness.

The system is now accessible to both government-sponsored and self-sponsored students in public or private institutions for subsequent loan applications.

Please note that this guide is specifically for second time and subsequent applications, not for first-time applicants.

1. Application Using the HELB Mobile App

The HELB Mobile App has transformed the loan application process into a more streamlined and accessible procedure.

Here’s a guide to navigating the HELB Mobile App:

App Download: Get the HELB Mobile App from the Google Play Store.
Registration: Sign up on the HELB Mobile App with your personal details such as name, phone number, email, national ID, and KRA PIN.
Financial Literacy Form: Complete the financial literacy form to comprehend the loan’s purpose and your obligations.
Loan Selection: Select the loan type that corresponds to your academic level and course.
Update and Submit: Refresh your details as needed and submit your application. A confirmation message with your loan serial number will be sent to you.

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2. HELB USSD Code (642#)

For those seeking an alternative method, the HELB student loan USSD code provides a convenient way to apply for your next loan. Here’s the procedure:

Dial *642#: Use your mobile phone to dial *642# and follow the on-screen instructions.
Choose Loan Application: Select the loan application option, then choose the Subsequent Loan.
Agree to Loan Terms: Confirm your acceptance of the loan terms by choosing the corresponding option.
Confirm Phone Number: Confirm your phone number and make a nominal payment of Kshs. 1 using your ID number as the account reference.
Finalize Application: After confirming your details, proceed with the application process and complete your submission.

3. HELB Student Portal

The HELB Student Portal provides an online platform for handling loan applications and repayments. To use this service:

Enter the Portal: Sign in to the HELB Student Portal with your credentials.
Go to Loan Application: Find the loan application area and choose “Subsequent Loan.”
Enter Necessary Information: Respond to the prompts and provide the required information correctly.
Finalize Application: Fill out the application form and submit it via the portal.

Deadline for HELB student loan Applications

Circle the date! The deadline for the HELB subsequent indergraduate loan application for the 2024/2025 period is scheduled for September 30, 2024.

It’s recommended to apply early to prevent any last-minute rushes and possible technical issues.

Undergraduate Scholarship, Loan & Bursary (First-Time Application): September 6, 2023
Undergraduate Loan (Subsequent Application): September 30, 2023.

Also read – How to Use the African Bank Loan Calculator

Scholarships, Bursaries, and Loans

The Higher Education Financing (HEF) portal is currently open for scholarship, bursary, and loan applications for university students.

Government-funded scholarships and loans are now available to students who begin their university studies in the academic year 2023 and beyond.

Students who commenced their university education prior to 2023 can still utilize the former government funding and Higher Education Loans Board (HELB) loan application process.

Grants and scholarships will continue to be awarded based on the financial needs of the students, in a manner consistent with the previous HELB loan system.

Required Documentations for HELB student loans

A successful HELB student loan application depends on the submission of the correct documents. The necessary documents for returning applicants include:

National ID Card: Copies of both the applicant’s and their parents’ or guardians’ national ID cards.
Academic Certificates: Copies of admission letters, KCSE result slips, or certificates.
Bank and Institution Details: A copy of the applicant’s bank ATM/Bank card (for government-sponsored students) and the institution’s Smart Card.
Photographic Identification: A recent color passport-size photograph of the applicant.

Ensuring these documents are prepared and properly submitted is essential for a seamless application process.

Financial Literacy and Loan Management

Grasping financial literacy is crucial for effective management of your HELB loan.

This loan is designed to cover key educational expenses such as tuition, books, stationery, accommodation, and living costs.

It is imperative for students to judiciously handle these funds, making sure they are spent for their designated purposes.

The HELB portal and app offer tools and exercises on financial literacy to assist students in this regard.

Utilizing these resources can deepen your comprehension and promote the responsible use and management of the loan.

Loan Disbursement and Repayment

After your HELB loan application is approved, accessing the funds is simple, particularly with M-PESA integration. Here are the steps:

Download the M-PESA App from Google Play Store, Apple App Store, or Huawei App Gallery.
Register and log in using your phone number that is registered with M-PESA.
Locate the HELB Mini App by navigating to the Education tab and selecting HELB.
Withdraw the funds by following the on-screen prompts to transfer them to your M-PESA account.

This method guarantees that the funds are easily available for your educational expenses.

Also read – Step-by-Step Guide to Using Blooket in 2024

Repaying the HELB student Loan;

Repaying your HELB loan is just as important as the application process. Here’s the method to repay using M-PESA:

Select ‘Pay Bill’: On your M-PESA menu, select the ‘Pay Bill’ option.
Enter the Business Number: Input 200800 as the HELB business number.
Account Number: Use your national ID number as the account number.
Enter the Amount: Indicate the amount you intend to repay.
Confirm the Transaction: Finalize the process by entering your M-PESA PIN.

Prompt repayment of the HELB loan is not only a financial obligation but also a contribution to the fund, aiding future students in their academic pursuits.

FAQs

Who is eligible for a HELB student loan?

Eligibility for a HELB student loan requires you to be a Kenyan citizen enrolled in a recognized Kenyan higher education institution. First-time applicants must be registered in a full-time undergraduate program.

How do I apply for a HELB student loan?

You can apply for a HELB student loan online through the HELB student portal by filling out the application form and submitting the required documents.

What documents are required for a HELB student loan application?

equired documents typically include a copy of your national ID, admission letter from your institution, parents’ or guardian’s ID copies, recent passport-sized photographs, and filled guarantor forms.

When is the application deadline for HELB student loans?

The application deadlines for HELB student loans are typically set before the start of each academic year. Exact dates can be found on the HELB website or by contacting their offices.

How is the HELB loan disbursed?

The HELB loan is disbursed directly to your institution to cover tuition fees, with the remainder sent to your bank account for upkeep and other personal expenses.

How much can I borrow from HELB?

The amount you can borrow from HELB varies based on your level of study and financial need. Undergraduate loans typically range from Ksh 35,000 to Ksh 60,000 per year.

What is the interest rate on a HELB student loan?

The interest rate on a HELB student loan is 4% per annum. The interest starts accruing after the loan is disbursed and continues until the loan is fully repaid.

When do I start repaying my HELB student loan?

Repayment of the HELB student loan begins one year after completing your studies or upon securing employment, whichever comes first. Repayment terms and conditions are outlined in your loan agreement.

Final Thoughts

Applying for the HELB student loan for the 2024/2025 academic year can be a seamless process with the right guidance.

Whether you choose to use the HELB Mobile App, the USSD code, or the Student Portal, it’s crucial to follow the outlined steps carefully.

Keep in mind, the subsequent loan aims to support your educational goals, making your academic pursuit financially manageable.

Seize the chance to secure your financial support – submit your application for the HELB student loan now and pave the way for a prosperous higher education journey.