“No Payslip?” HELB Sends Important Message to Self-Employed Kenyans Over Loan Repayments

The Higher Education Loans Board (HELB) has issued a reminder to borrowers who are not formally employed, urging them to continue repaying their student loans despite not having payslips.

In a notice shared on Wednesday, November 11, HELB addressed self-employed individuals, small business owners, freelancers and other Kenyans earning income outside formal employment. The board clarified that the lack of a formal job or payslip does not exempt borrowers from their loan repayment obligations.

HELB stated that all beneficiaries are required to begin repaying their student loans within one year of completing their studies, regardless of their employment status. This requirement applies to individuals working in formal employment, running businesses or earning money through informal activities.

The board also recommended a minimum monthly repayment of KSh 1,500 for borrowers with low or irregular incomes. It encouraged beneficiaries to make consistent payments, even when they cannot afford large instalments.

“Your hustle is valid, and so is your repayment plan. Whether you’re selling jeans, running a kiosk, or freelancing, you can still repay your HELB loan. Start small, stay consistent, and help the next student reach their dream,” the board stated.

How to Repay HELB Loans Without a Payslip

HELB outlined three convenient repayment channels for self-employed borrowers and individuals outside the formal payroll system.

The first option is the USSD service. Borrowers can dial *642# on their mobile phones to access repayment services without requiring an internet connection.

The second option is the HELB online portal, where beneficiaries can log in and make payments digitally.

The third option is the HELB Mobile App, which allows borrowers to manage their accounts and repay their loans using smartphones.

The reminder comes as many young Kenyans continue to explore self-employment, freelancing and small businesses amid limited formal employment opportunities.

HELB encouraged all beneficiaries to take responsibility for their outstanding loans by making regular contributions. Consistent repayments help maintain the revolving fund, enabling other students to access financial assistance and pursue higher education.

https://www.tuko.co.ke/business-economy/economy/646381-helb-issues-notice-borrowers-payslips-shares-repayment-ussd-code/?fbclid=IwZXh0bgNhZW0CMTEAcGRvZgNzcnRjBmFwcF9pZA8yNzUyNTQ2OTI1OTgyNzkAAR9mqSJu_ynCAyT8smCUuKCLvU4KGnnSRog0tZ4H8WgILBdd_LVsr44mJ9T3JA_aem_02gOeqQ67XjzQf2apHLDOA

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