How HELB Sends Money to University and TVET Students in Kenya (Bank and M-Pesa)  

The Higher Education Loans Board (HELB) has explained how its University and TVET students can access loan funds, revealing distinct procedures for M-PESA and bank disbursements under its new payment system.

Through a partnership with Safaricom, the HELB now transfers student upkeep money directly to students’ M-PESA wallets, an effort expected to reduce long queues and provide instant access to funds to purchase food, travel and personal items.

To access money deposited into the wallets, students may use the *642# USSD code or through the HELB Mini App within the M-PESA application.

Also Read: Answers to The Most Common Questions Students Ask About HELB

HELB Loan Withdrawal Procedures via USSD and M-PESA App

Students using the USSD option must dial *642# from their Safaricom number.

Upon initial use they should register and create a PIN before logging in, to select Withdraw Funds and Upkeep thereafter.

After inputting the amount to withdraw and entering the M-PESA PIN, they are supposed to receive a confirmation message from both HELB and Safaricom.

This transaction comes at a cost of Ksh15.

Smartphone users are required to download the M-PESA App from Google Play, the App Store, or Huawei AppGallery.

They then select the “Categories” option on the App, followed by “Education” and finally tap on the “HELB” icon.

This initiates registration of the HELB Mini App by requiring students to enter their HELB-registered M-PESA mobile number.

Also Read:How to Understand HELB Loan Repayment Terms

Loan Disbursement and Management System for Students

After submitting an SMS verification code that the system will have sent them and a password, students are enabled to withdraw loans, view their loans and applications status, make subsequent loan applications, review loan statements and make loan repayments.

The board also confirmed that only students with an M-PESA line registered under the same National Identity Number linked with their HELB profile will be eligible for the service.

HELB has affirmed that funds for tuition and accommodation are still directly remitted to institutions through Paybill numbers and they are locked exclusively for the respective institution’s use.

Bank disbursements continue to be available for a segment of beneficiaries.

HELB reiterated its method, that it “disburses funds directly to the bank account listed on your profile.”

The board has, however, warned that outdated account details will either delay the money or cause failed remittances.

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HELB CEO Geoffrey Monari Speaking at a Press Confrence. Credits Files