Higher Education Loan Board (HELB) has sent a crucial message to all university students who have not cleared their loan repayments.
On their official verified Facebook page, HELB made a crucial announcement today to all students concerning repayment of HELB loans.
The Higher Education Loan Board has said that students can repay their Helb loans using Bonga points in the new initiative.
This move is a sigh of good news more especially for those students who were allocated Helb loan and have not secured employment or any other source of income to repay their outstanding loans.
Students can now redeem their Bonga points and stay up to date in the HELB repayment.
HELB has informed all students that those opting to redeem their Bonga Points will receive Sh 1 for every 5 Bonga. To redeem Bonga points students can dial *126# and select lipa na Bonga points.
Upon clearing loan repayment, the student is required to contact the Higher Education Loan Board for the processing of a clearance certificate.
The Higher Education Loans Board (HELB) is a statutory body that was established by an Act of Parliament ‘Higher Education Loans Board Act’ Cap 213A in July 1995.
All beneficiaries of HELB loans are required to start repayment of the loan within one year of completion of studies and failure to do so a penalty of Sh 5000 is applied every month.
The minimum amount one can pay per month is Sh 1500. The loan repayment can be done via MPESA or the bank.