Compliance and Statutory
How to Pay HELB via Mpesa
Paying HELB via Mpesa is a must for everyone looking to pay. Higher Education Loans Board(HELB) is a board that provides loans and scholarships to higher education students. For example, those doing undergraduate and post-graduate studies. HELB was established with the aim of recovering matured loans. Also, it helps in raising sufficient funds to meet the high demand for loans while attaining faster loan repayments.
It is important to note that HELB consists of three branches that ensure the smooth running of operations. They include:
- Undergraduate Section( It helps in recovering undergraduate loans)
- Jielimishe loan Section( It is responsible for allocating and recovering loans from salaried students, that is working students)
- Allocation section( It is responsible for the collection and updating of loanees’ accounts)
When to repay your HELB loan via Mpesa?
All HELB loan beneficiaries are required to start repayment of the loan within one year of completion of studies or, within such a period as the Board decides to recall the loan. However, you can make voluntary payments before or after the completion of your studies to reduce your loan balance.
For salaried students, loan repayment is due immediately upon disbursement of the funds.
Loan Repayment Methods
The board has developed different modes of payment to ease the process of loan repayment. For instance, bankers cheque, cash deposit to HELB collection, and the most common one paying using Mpesa.
How to Pay HELB via Mpesa
- Go to your Mpesa Menu and select the Lipa na Mpesa Option
- Go to Paybill
- Enter your Paybill number(200800)
- Your national ID number is the account number
- Enter the amount to pay
- Input your pin number
- Send and wait for a confirmation message
For employers, HELB payments should be done by the 15th of the following month. For self-paying individuals, payments should be made within the month. Defaulters receive a Ksh. 5000 penalty for each month not paid.
Final Thoughts on How to Pay HELB via Mpesa
In conclusion, paying HELB via Mpesa is easy, secure, and fast. It is beneficial for you to keep repaying your HELB loan and avoid defaulting. Upon completion of loan repayment, you will get a HELB clearance certificate, even more, you will be able to build a good credit history for future use.
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