HELB Launches New Mobile App For Accessing Loans
The Higher Education Loans Board (HELB) has launched a new mobile application that enables university and college students to access loans. The HELB Mobile Wallet Payment Solution was launched in partnership with Safaricom, a leading telecommunications company in Kenya, during the 2023 HELB Universities Consultative Forum.
Through the application, eligible students can apply for loans, check loan statuses, and repay loans. The solution is accessible through the Safaricom M-Pesa Mini App and the HELB USSD code *642#.
Students can also receive notifications and access utilization statements for financial planning. Graduates can track their payments and generate loan statements.
HELB CEO Charles Ringera said that the new payment solution has the potential to serve around 420,000 students who apply for loans every year. The introduction of the mobile wallet payment solution is part of HELB’s efforts to provide a simple and efficient digital customer journey for the management of student loan funds. Plans are also underway to introduce a similar payment solution for Airtel and Telkom networks.
“The higher education institutions continuing students can receive notifications and access the utilization statement for financial planning; while the beneficiaries who have graduated can track their payments and generate loan statements,” said the State body in a statement.
HELB Chairman Ekwee Ethuro urged students to take up the new solution, which he called an efficient solution for loan fund access and management. He also highlighted HELB’s commitment to improving citizen service delivery and ensuring that borrowing customers, the students, have a delightful experience.
He emphasized that loan beneficiaries must repay the loan after completing their studies to create a revolving fund for future generations.
“With the launch of the mobile wallet payment solution, HELB alms at providing a simple digital customer journey for the management of student loan funds,” said Mr. Ringera.
HELB Launches New Mobile App For Accessing Loans
