Civil servants to apply for HELB loans at low interest rates
The Ministry of Public Service in partnership with Higher Education Loans Board are providing loans at a lower interest rate to all civil servants in the national government, county government and National Police Service.
The application for the loans are now open for the Civil servants. The loan has been termed as Training Revolving Fund – TRF Loans according to a notice from HELB.
According to HELB, civil servants can apply for amounts between thirty thousand (30K) and five hundred thousands (500,000) payable in a period of up to 6 years.
Civil servants to apply for HELB loans at low interest rates
The loan, with a low-interest rate of 4 per cent per year, will be used to finance civil servants in payment of tuition fees, examination fees, Library fees, and Computer and research fees.
HELB has also highlighted courses covered by the training revolving fund which include Postgraduate studies, both master’s and PhD and short courses of at least three months.
Civil servants interested in the loan are required to provide at least 2 guarantors ( specifically colleagues in their work station) and a letter of recommendation from their employer.
Further, the candidate must obtain an admission letter from a recognized university they have chosen for their studies.
Other requirements are copies of the payslips for the latest 3 months, a certified copy of their national identification card, recent coloured passport-sized photographs and a certified copy of KRA pin.
The repayment of the loans starts immediately from the first month after the funds are disbursed. The repayment will be done via a monthly check-off system from the employer’s payroll.
This announcement comes days after HELB announced up to Ksh500,000 loans for Kenyan nurses intending to further their studies.
The five hundred thousand loan is meant for nurses pursuing advanced and specialised courses in approved training institutions in Kenya as stated by HELB.
Civil servants to apply for HELB loans at low interest rates
