The Higher Education Loans Board (HELB) has announced a limited-time offer allowing loan beneficiaries to receive up to an 80 per cent waiver on outstanding penalties if they settle their loan balances in full.

In a notice published on Thursday, August 13, HELB said the waiver applies to beneficiaries who clear their outstanding loan balances during the period of the offer.

“Settle your HELB loan balance in full and enjoy up to 80% waiver on outstanding penalties,” HELB said.

The Board urged borrowers with outstanding loans to take advantage of the opportunity to clear their balances and reduce the amount payable in penalties.

“This is your opportunity to clear your balance and take the first step towards financial freedom,” the notice added.

The offer applies for a limited time, although HELB did not indicate the deadline for borrowers to take advantage of the waiver in the notice.

Borrowers who wish to benefit from the offer are required to settle their HELB loan balance in full.

The waiver applies only to those who pay their full arrears at once through the HELB portal, mobile app, or USSD code *642#.

When Does HELB Loan Repayment Start?

According to HELB’s loan repayment guidelines, undergraduate loan repayment starts within one year after the completion of studies or within any other period when the Board decides to recall the loan, whichever comes earlier.

However, beneficiaries can make voluntary payments before or after completing their studies to reduce their outstanding loan balances.

How to Repay Your HELB Loan

Borrowers can repay their loans through several designated channels.

1. USSD Code

To make a repayment through USSD:

  • Dial *642#.
  • Log in or register.
  • Select Loan Repayment.
  • Select M-Pesa.
  • Enter the amount you want to pay.
  • Enter your M-Pesa PIN.

You will then receive SMS notifications from eCitizen and HELB.

2. HELB Mobile App

Borrowers can also make payments through the HELB Mobile App.

  • Download the HELB Mobile App from the Play Store.
  • Log in to an existing account or register for a new one.
  • Select the Pay Loan option.
  • Confirm the phone number and amount to be paid.
  • Enter your M-Pesa PIN when prompted.

You will receive SMS notifications from eCitizen and HELB once the transaction has been processed.

3. Loanee Self-Serve Portal

Borrowers can also make repayments through the self-service portal.

  • Log on to the Higher Education Financing website.
  • Select the Self-Serve option on the HELB menu.
  • Select Loan Repayment.
  • Choose Make Payment.
  • Enter the amount you want to pay and click Pay.
  • Confirm the payment notification when prompted.
  • Select your preferred payment option and follow the instructions.
  • Once the payment is complete, click Complete.
4. Employers Portal

Employers can remit deductions through the HELB Employer Portal.

The process includes:

  • Logging into the HELB website.
  • Uploading the remittance list.
  • Verifying the details and clicking Confirm.
  • Printing the e-slip after confirmation.
  • Selecting Payments from the menu.
  • Choosing the remittance record to be paid and clicking Make Payment.
  • Entering the phone number that will receive the eCitizen notification.
  • Clicking Process Payment.
  • Selecting the preferred payment method and following the prompts.

Once payment is completed, the remittance record is automatically updated.

Employers can then view updated and paid remittances under the Statements section and generate a receipt.

What Happens After You Clear Your HELB Loan?

After completing loan repayment, borrowers are required to seek clearance from HELB.

The Board, and not an employer, is responsible for confirming whether a borrower has fully repaid their loan.

HELB confirms the completion of repayment by issuing a certificate of clearance. Borrowers seeking clearance are required to fill in the Loan Recovery Enquiry Form.

Borrowers who overpay their HELB loans can apply for a refund from HELB.

The refund is issued by HELB and not the borrower’s employer. To claim the refund, a borrower is required to fill in the Loan Recovery Enquiry Form.

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HELB Announces 80% Penalty Waiver for Borrowers Who Clear Loans in Full
Students at the HELB help center. PHOTO/HELB