The Higher Education Loan Board (HELB) has sent an important message to all the university students who have not cleared their loan payments.
HELB on its official verified Facebook page today made an important announcement regarding the repayment of HELB loans for all the students.
The Higher Education Loan Board has said that students can repay their Helb loans using Bonga Points in the new initiative.
The move is especially good news for the students who were allotted HELB loans and have not secured employment or any other source of income to clear their outstanding loans.
Students can now redeem their Bonga marks and stay up to date in HELB repayment.
HELB has informed all students that those who choose 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 sanctioning the loan repayment, the student will have to approach the Higher Education Loan Board to process the clearance certificate.
Higher Education Loan Board (HELB) is a statutory body which was established in July 1995 by an Act of Parliament titled ‘Higher Education Loan Board Act’ Cap 213A.
All beneficiaries of HELB loan are required to start repayment of the loan within one year of completion of the study and failing to do so attracts a penalty of Rs.5000 per month.
The minimum amount to be paid per month is Sh 1500. Loan repayment can be done through MPESA or Bank.
