HELB Launches New Platform For Loan Repayment, How It Works

Kenya’s Higher Education Loans Board (HELB) has announced a major development aimed at making it easier for borrowers living abroad to repay their student loans.

In a statement released on Wednesday, May 8, the agency confirmed that loan repayments can now be made from anywhere in the world through a partnership with WorldRemit, a global digital payments platform.

This move is expected to benefit thousands of Kenyan graduates residing and working in the diaspora who have long faced challenges in fulfilling their loan obligations due to limited payment channels.

“Wherever in the world you may be, we have made it easier for you to make an impact back home. Here is how to pay your HELB loan via WorldRemit,” HELB said in its official statement, underscoring its commitment to facilitating more accessible and convenient repayment options for its beneficiaries.

HELB has provided a detailed, step-by-step guide for borrowers interested in using this new payment option. According to the statement, the process begins by logging into the official WorldRemit website at www.worldremit.com.

Once logged in, users are required to select the “Bank Deposit” option from the available transaction methods. This will enable them to transfer funds directly into the designated HELB account.

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Borrowers will then need to choose their preferred currency for the transaction, with the option of either United States Dollars (USD) or Kenyan Shillings (KES). HELB clarified that either currency will be accepted, offering flexibility to borrowers based in various countries with different currency denominations.

In the next step, borrowers are instructed to enter the amount they wish to remit. The payment should be directed to HELB’s Kenya Commercial Bank (KCB) account, with the account number 1103266314 designated as the official recipient account.

Payment can be completed using a valid debit or credit card, ensuring that the process remains seamless and accessible to those with international banking cards.

To ensure proper identification and allocation of the payment, borrowers are required to use their National ID number as the reference when making the payment. Once the transaction is completed, borrowers should forward the payment confirmation email, alongside their National ID number, to HELB via either onlinepayments@helb.co.ke or diaspora@helb.co.ke. This step ensures that the repayment is credited accurately to the borrower’s loan account.

The Introduction of this global repayment option marks a significant milestone for HELB, as it strives to improve loan recovery efforts and reduce the growing burden of unpaid student loans.

Many Kenyans living abroad have previously expressed frustration over the logistical difficulties of repaying their loans, and HELB hopes that this initiative will encourage more diaspora borrowers to settle their obligations.

Locally, HELB has also been modernizing its repayment systems to align with evolving digital financial services. The agency has transitioned from traditional repayment channels to more streamlined digital options, including integration with the eCitizen payment gateway.

Both individuals and employers can make loan repayments through eCitizen, with employers also having the option to remit payments via a checkoff system from employees’ salaries.

For individual borrowers within Kenya, HELB offers three primary platforms for making payments: the HELB mobile application, the HELB online portal, and the USSD code *642#. These platforms allow borrowers to conveniently access their loan accounts, view balances, and make payments directly from their mobile devices or computers.

In addition to the official payment platforms, borrowers in Kenya can also make payments through a variety of popular mobile money services and several partnering banks across the country. This multi-channel approach aims to accommodate the diverse needs of borrowers and make it easier for them to stay current with their repayments.

HELB has also been proactive in providing incentives to encourage repayment. From time to time, the agency announces penalty waivers and discounts for borrowers who have accrued penalties due to late or missed payments. These initiatives often target defaulters who are willing to clear their outstanding balances in full, offering them a chance to reduce their financial burden.

As HELB continues to explore innovative solutions to enhance loan recovery and expand repayment access, the agency urges all beneficiaries to take advantage of these flexible repayment options to avoid penalties and contribute to the sustainability of the student loan fund. By making loan repayment more accessible both locally and internationally, HELB aims to empower more Kenyans to honor their obligations and pave the way for future generations of students to access financial support for higher education.

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