HELB RELEASES SH6.7B TO STUDENTS JUST AHEAD OF UNIVERSITY OPENING DATES

HELB Undergraduate Loans
HELB Undergraduate Loans

The Higher Education Loans Board wishes to update as follows regarding application and disbursement status for Undergraduate and TVET Loans for FY 2019/2020

A. UNIVERSITY UNDERGRADUATE FY 2019/2020:

1). Subsequent Loan Applications:

As at 21 August, 2019, HELB had already disbursed Kes 6,768,528,500.00 to 156,283 students which will also help in facilitating their transport back to University after their holidays. The expected/target number is 171,600 applications therefore we have extended the FY 2019/2020 Undergraduate Subsequent deadline to 31 August, 2019 to allow for the students at home to apply since they are resuming from Monday the 26th of August, 2019.

We therefore call upon students who have not applied to urgently do so by 31 August, 2019.

2). First Time Applications:

As at 21st August, 2019 we have so far had 65,496 applications. The deadline was also extended to 31 August 2019. For those whose forms have been received, verified, loan awards amounting to Kes 3,416,203,800 are awaiting disbursement just before their official reporting dates in September 2019.

We call upon the students who are yet to print and submit their Loan Application forms to hasten the process before the closure of the extended deadline of 31 August 2019.

B. TVET FY 2019/2020:

1). Subsequent Loan Applications: HELB has so far received 17,980 online applications out of the expected 43,000. The deadline is 31st October, 2019. For students who have already remitted their forms, they will be verified and disbursement for Tuition and Upkeep into their respective bank accounts) of Kshs. 26,400 and Kshs. 13,600 respectively will be done ahead of their opening dates in September 2019.

However we note that the number so far received less than half of the expected 43,000. We call upon the students who are yet to apply, print and submit their Loan Application forms to hasten the process before the deadline of 31st October, 2019

2). First Time Applications:

HELB has budgeted to fund 72,000 applicants including those in medical training institutions. As at today HELB has about 46,647 online applications but only 6,199 loan application forms have been received which is 10% yet the technical colleges are opening in September 2019, We therefore call on this cohort to hasten the application process and delivery of the forms through our countrywide branches in Huduma Centres or at Anniversary Towers before the deadline of 31st October, 2019.

Elimu Fund (AEF] loan for KMTC trainees is open until 31st August 2019 for both continuing students and first time applicants.

All HELB loan applications are accessible on www.helb.co.ke

Students who may have enquiries regarding HELB loan application are advised to contact HELB Offices from 8am to 5pm, Monday – Friday through the following channels:

1). The Student Service Centre on Mezzanine One [Mi] Floor,/Anniversary Towers
2). Contact Centre: Tel: 0711052000; Email: contactcentre@helb.co.ke, Social Media: Twitter: @HELBPage or Face Book: HELBpage
3). Select Huduma Centres: Nairobi-GPO, Machakos, Mombasa, Nakuru, Eldoret, Kisumu, Kakamega, Kisii, Nyeri, Embu, Kitui, Bungoma, Lodwar, Meru, Thika, Kitale, Kericho, Nandi, Muranga, Garissa, Narok, Migori, Chuka, Kilifi and Taita Taveta.

For the last 24 years, HELB has empowered the dreams of more than 837.965 students and disbursed over 92B Kenya Shillings. As at 30th June 2019, there were 436,892 mature loan accounts worth
Kshs. 52.1B as compared to 396,329 mature loans holding Kshs. 46.9B in the last financial year 2017/2018. A total of 401,073 loanees holding Kshs. 39.98 had not matured. Out of the mature loans, 160,076 accounts valued at Kshs. 24.5B are repaying their loans compared to 144,075 loanees holding 22.15B who were in repayment at the end of June 2018.

A total of 61,038 loanees holding Kshs. 6.13 are in default as compared to 61,700 holding Kshs. 6.55B at the end of June.

A total of 215,778 loanees have cleared their loans worth Kshs. 21.5B as compared to 190,554 cleared loances holding Kshs.18.2B in June 2018. The loan book performance as at 30m June, 2019 was 72.4% compared to previous year performance of 70% as at 30th June, 2018.

HELB continues to call upon all the loanees holding accounts in default, to pay up their loans so that the HELB can continue Empowering Dreams of other deserving Kenyan Youth.

About Higher Education Loans Board

The Higher Education Loans Board (HELB) is a state body established by an Act of Parliament – CAP 213A in 1995 mandated to provide loans, bursaries and scholarships to Kenyans pursuing higher education in recognized Kenyan Universities and Colleges and to recover the same after completion of studies to facilitate establishment of a revolving fund. The Board is therefore well aligned to Chapter 4, Section 43 (0) (0 of the Constitution of Kenya 2010, that every person has the right to education.

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