How to Pay Helb: Loan Paybill Number and Helb Mpesa Number
HELB are initials to stand for Higher Education Loans Board .It is an organization agency that give bursaries, scholarships and loans to students training at public institutions which must have been recognized by the Ministry of Education, in Kenya. The main aim of HELB is to assist people in pursuing higher education in institutions which are recognized .
These loans are in two categories
1. For the direct entry students
This is for those students who are joining private or public universities. The university must be within the EAC(East Africa Community).The amount awarded to the student range between 35 thousand and 60 thousand. The loan earns an interest of 4 per cent per annum. Payment are made after completion of the studies.
2. Loans for the salaried students
This comprise of those doing masters and PhD and also undergraduates. It targets those students who are able to pay the loan while still they are studying. This loan is repayable within a period of 4 years and earns an interest of 12 percent per annum.
They are in two categories:
.Visa Oshwal -It is offered to direct entry students to the universities through the whole course of their study .It is offered by Oshwal in association with HELB.
.Postgraduate scholarship-It is a scholarship offered by HELB and is offered on the basis on academic merit.
1. TVET Bursaries and Loans
This are loans and bursaries awarded to students who are pursuing diploma and certificate courses in public polytechnics ,colleges, technical training institutions and public universities.
2. Undergraduate bursary
This is awarded to the extremely poor students in the society and benefits for direct entry. This bursaries apply to those from poor backgrounds, orphans and those who are single parented.
D. AFYA ELIMU FUND LOANS
This loan attracts an interest of 4 percent per annum and is offered to those students who have enrolled to approved institutions which have mandate to train health workers and to those who are already in the health sector. HELB and Intra Health Kenya partnered to ensure that all the willing health workers get higher education.
E.TRAINING REVOLVING FUND
This was started by the government to help public servants in accessing funds which are at subsidized interests to train in order to develop their skills and knowledge. The loan range between 30 thousand and 50 thousand.
WHO IS ELIGIBLE FOR HELB
One has to be 18 years and above and be a Kenyan citizen. The applicant also must have enrolled to a higher education institution which is recognized to a full time course which is for at least 1 year. That institution must be within the EAC(East African Community)
1.Kenya Revenue Authority PIN Number
2.Aphotocopy of the applicants national Identity Card
3.A bank Account which is valid-this is where they will deposit the applicants money
4.A photocopy of the applicants parents national Identity Card
5.IF the applicants parents have retired -they must produce a proof to show that they have retired
6.An orphaned applicant must produce a death certificate of the parent
7.A copy of a letter of admission to the college/university
8.A copy of Kenya Certificate of Secondary Education(KCSE)
9.Copies of the national Identity Cards of two guarantors
10.A current coloured passport sized photograph
After one has been issued with this loan ,HELB has to come up with ways in which they will recover their money .Hence, they provide a secure and simple way on how one can pay back the loan .They use their pay bill number and also engage other companies like the banks to assist them in collection. The repayment methods includes use of a pay bill number ,cash deposits ,bankers cheque and many others.
Some of the banks they use include; Family bank ,Co-operative bank, Kenya Commercial Bank, Equity bank, Jammi Bora bank ,National Bank of Kenya, Standard chartered bank ,NIC bank and Citi bank.
Loan payment in most cases start one year after completion of studies, that is, after graduation. Some employees are deducted this money from their salaries by the employer and submit it on his employees behalf .In such a case, the dead line in which it should be remitted is in the 15th day of the month that follows .Those who individually pay are supposed to pay during the month failure to which a penalty of 5 thousand is imposed on each month the loan is not paid. Those who refuse to pay are risking to be blacklisted by the CRB(Credit Reference Bureau).If you are blacklisted ,you can not access any loan from any financial institution in Kenya.
HOW YOU CAN PAY YOUR LOAN
HELB PAYBILL NUMBER
You use M-Pesa to repay your loan. You use business number as 200800 and your national Identity Card number will be your account number. Other method is pesa point and bank ATM ,offered by equity where you use your Identity Card number as your reference number for the account.
STEPS TO FOLLOW WHEN REPAYING HELB LOAN VIA M-PESA PAYBILL NUMBER-SAFARICOM
1.Go to M-pesa menu and select Pay Bill
2.Enter the Business Number as 200800
3.Insert your ID number as your Account Number
4.Enter the amount you want to pay
5.Enter your m-pesa pin
6.Check again if the details you entered are correct and click send.
7.An m-pesa transaction message for confirmation will be sent to you after s very short time.
USING AIRTEL MONEY TRANSFER
1.Select the option of make payments
2.Choose pay bill
4.Enter HELB as the business number
5.Enter amount ,example 5000
6.Enter your pin number
7.Make confirmation of the transaction
8.Enter your national Identity Card number in the reference section
9.You will receive a message instantly from Airtel Money
USING EQUITY BANK’S ATM CARD
You will follow the following steps on the equity menu:
1. Insert the ATM card
2. Enter your pin number
3. Go to Pay Bills
4. Select HELB
5 .When promoted, enter your ID number
6. Enter amount
7. You will receive a slip with the amount entered and your ID number will be indicated
USING PESA POINT ATM
Follow the following steps on the ATM menu:
1. In the card slot o , insert your ATM card then remove the card from slot o
2. Select the language
3. Enter your secret pin number
4. To proceed, select the button with pay bill
5. Key in 5006, which is the code that will be shown for HELB option
6. Enter your ID number as your HELB account and confirm
7. Enter your mobile number for ease if HELB want to contact you
8. Enter what you want to pay for ,that is ,postgraduate or undergraduate
9. Key in the amount you want to pay as part of your loan
10 . If the transaction is completed successfully, your payment will be acknowledged when you receive a receipt from the ATM.