The Higher Education Loans Board (HELB) on Tuesday, June 11, 2024, announced a new deal for the loans’ beneficiaries with a debt penalty.
Through a statement shared on its official social media page, the loans board has set a penalty waiver for defaulters.
HELB announced an 80 per cent penalty waiver for beneficiaries with accrued penalties who will pay their loans in one lump sum.
“Pay your loan arrears in a lump sum and enjoy a waiver of up to 80% on accrued penalties,” HELB said in a statement.
Penalty waiver
On March 11, 2024, through its official social media handles, HELB announced a similar waiver on loan defaulters with accrued penalties.
“Enjoy a whooping Penalty 80% Loan Waiver on accrued penalties! When you settle your HELB loan in a lump sum,” HELB announced.
Defaulters’ penalty
According to the HELB’s website, beneficiary defaulters are penalized for failing to pay their loans every month.
“If you default, you will be penalized for each month that remains unpaid you pay a fine of not less than five thousand shillings,” HELB said.
Loan repayment
On March 11, 2024, the loan board announced the repayment model for HELB beneficiaries. According to its website, all payments will be channelled through the HELB systems to the eCitizen gateway.
“Payments to HELB will henceforth be channelled through the HELB systems (USSD, Mobile App, Loanee Portal, or Employer Portal) to the eCitizen gateway,” HELB indicated.
The loans board further indicated that the payment process is through its designated channels.
“USSD Code Dial *642# Log in or Register Select Loan Repayment Select Mpesa Enter Amount Enter Mpesa Pin You will receive SMS notifications from E-citizen and HELB,” the loans board said.
“HELB Mobile App Download the HELB Mobile App from the Play Store. Log in if you have an account or register to create an account Select the pay loan option. Confirm the Phone number and amount to pay the Key in Mpesa pin upon prompt You will receive SMS notifications from E-citizen and HELB.”
The board also instructed beneficiaries who would want to pay for the self-serve method to log in to HELB’s website and select the self-serve option.
“Loanee Self-Serve Portal: Log on to www.helb.co.ke Select the self-serve option on the HELB menu. Select Loan Repayment Select Make Payment Fill in the amount to pay and click “Pay.” You will receive a notification to confirm. Once confirmed, the payment options will be displayed. Select your preferred payment option and follow the prompts once the payment has been made, click Complete,” HELB indicated.
For the employers portal, HELB instructed them to log into the loans board website and choose the remittance record they would want to pay.
“The HELB Employer portal is the entry point for Employers. Log on to www.helb.co.ke Upload Remittance List Verify all the details entered and click the “confirm” button Upon confirmation print the e-slip. Click on Payments on the Menu. Choose the remittance record you want to pay for then click on the “Make Payment” button. On the pop-up screen, key in the phone number that will receive eCitizen Notification and click “Process Payment”. Choose the desired mode and proceed to initiate payment. Once payment is completed, the record will be automatically updated,” HELB said.
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