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The Higher Education Loans Board (HELB) has reminded employers to remit student loan deductions by the 15th of every month.
HELB loan repayments are treated as mandatory statutory deductions, with employers who fail to declare beneficiaries, make deductions or remit the money on time liable to financial penalties.
Employers have three main legal obligations when handling HELB deductions.
They are required to notify HELB when they hire a graduate or loan beneficiary, deduct the prescribed monthly repayment amount from the employee’s salary and remit the deductions to HELB on or before the 15th of every month through the HELB Employer Portal.
“New employers: Please register through http://bit.ly/4gtp8MV and ensure your monthly remittance obligations are fulfilled promptly,” HELB said in a notice.
In a separate notice, HELB announced an 80 per cent waiver on penalties accrued from non-payment or late repayment of loans.
The agency said the waiver applies to borrowers who clear their outstanding loan balances in full.
“Settle your HELB loan balance in full and enjoy up to 80 per cent waiver on outstanding penalties. This is your opportunity to clear your balance and take the first step towards financial freedom.”
HELB also clarified that the current interest rate for undergraduate, TVET and KMTC loans remains at 4 per cent per annum.
“Any claims suggesting otherwise should be supported by verified facts and official communication from HELB,” it said.
The clarification followed reports in sections of the media claiming that the agency had increased its loan interest rate to 12 per cent.
HELB chief executive officer Geoffrey Monari also dismissed reports that medical students could graduate with debts exceeding Sh4.2 million, saying the figure did not factor in the HELB loan component.
“Under the current student-centred funding framework, the maximum cumulative HELB funding available to a medical student over the duration of study is Sh2,308,116 subject to eligibility and the annual assessment,” he said.
Monari said HELB remained committed to ensuring that no deserving Kenyan is denied access to higher education because of financial challenges.
The 2026/27 Jielimishe loan application for salaried learners and the subsequent loan application for continuing students are currently open.
“HELB continues to implement government policy aimed at expanding equitable access to highr education through affordable financing mechanisms that supports students based on their level of need,” Monari said.
