HELB Announces on Disbursing Loan to University Students through M-Pesa
HELB Announces on Disbursing Loan to University Students through M-Pesa. Thursday saw the launch of a new application that university and college students may now use to access their loans, thanks to the Higher Education Loans Board (HELB).
In conjunction with telecom behemoth Safaricom, the HELB Mobile Wallet Payment Solution was unveiled during the 2023 HELB Universities Consultative Forum.
The solution is available through the Safaricom M-Pesa Mini App and the HELB USSD code *642#, and it enables eligible students to apply for loans, view loan statuses, and repay loans.
“The beneficiaries who have graduated can track their payments and generate loan statements,” the State body said in a statement. “The higher education institutions continuing students can receive notifications and access the utilization statement for financial planning.”
The introduction of a comparable payment system for Airtel and Telkom networks is also being planned, according to HELB’s additional announcement.
According to Charles Ringera, CEO of HELB, the new approach has the ability to serve the 420,000 students who apply for loans each year.
According to Mr. Ringera, “HELB is aiming to provide a simple digital customer journey for the management of student loan funds with the launch of the mobile wallet payment solution.”
HELB Chairman Ekwee Ethuro, for his part, urged students to adopt the new approach, calling it an effective way to access and manage the loan fund.
We continue to be dedicated to doing our share to enhance the delivery of citizen services, so we work to make sure that the borrowing customers—students—have a wonderful experience. In order to establish a revolving fund for future generations, the loan recipients will be required to repay the loan when they have finished their studies.
For more information and updates about HELB Portal and Updates, keep refreshing on our website.