Here Is How To Apply HELB Loan Through MPESA
By Getrude Mathayo / Published January 5, 2023 | 12:02 pm
KEY POINTS
HELB disburses over KSh. 15 billion to over 200,000 beneficiaries annually. Part of the loan is usually channeled directly to the learning institution to settle part of the tuition and accommodation fees while the rest is sent to the student for upkeep.
KEY TAKEAWAYS
First-time app users must sign up using the registered M-PESA number and details, while those with an existing account should proceed to sign in. Once you have an account, log in to access the homepage and explore the options available on the interface.
The Higher Education Loans Board (HELB) and Safaricom have partnered to roll out a smart mobile payment solution for university students and those in other tertiary institutions to access and utilize their loans and bursaries
The solution was to aid HELB to promote responsible spending with the funds locked for specific allocations, such as tuition or library fees only accessible to the specific Pay bill account of the recipient’s University or TVET institution.
The student’s upkeep allowance can now also be transferred into the student’s M-PESA wallet for everyday use.
HELB disburses over KSh. 15 billion to over 200,000 beneficiaries annually. Part of the loan is usually channeled directly to the learning institution to settle part of the tuition and accommodation fees while the rest is sent to the student for upkeep.
The solution was to create efficiencies for all stakeholders by reducing queues during registration as students can now pay through their mobile phones.
The platform grants HELB visibility of funds from various sources, which it can aggregate, reconcile in real-time and report to its financiers. Continuing students can receive notifications and utilize a financial planning tool on the portal; while those who have graduated can track their repayments and generate statements
How To Apply
You must download the M-PESA mobile application from Google App or Apple Store to access your funds through the mobile money service provider.
First-time app users must sign up using the registered M-PESA number and details, while those with an existing account should proceed to sign in. Once you have an account, log in to access the homepage and explore the options available on the interface.
Click on the education option, under the “services” option, to open the window and select HELB from the categories available
You will then be required to register on the HELB mini-app after agreeing to the terms and conditions. After signing in, you will receive a verification code that is required for you to log in.
Once the login is successful, select the withdraw option to transfer the money to your normal M-PESA account.
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