What The Higher Education Loans Board does

The Higher Education Loans Board (HELB) is a Kenyan government statutory body established in July 1995 under the Higher Education Loans Board Act, Cap 213A, operating as a state corporation under the Ministry of Education. HELB administers a revolving higher education financing scheme for Kenyan students pursuing university degrees, Technical and Vocational Education and Training (TVET), postgraduate studies, and sector-specific professional training. The board's core products are undergraduate loans, TVET loans, partial postgraduate scholarships (Master's at Ksh 200,000 over 2 years; PhD at Ksh 450,000 over 3 years), and a partner fund ecosystem covering over 20 named sector-specific and institutional schemes — including Afya Elimu (health, Ksh 535.7M), Civil Servants Training Revolving Fund (Ksh 351.2M), and Maritime Education and Training Support (Ksh 30M).

HELB's technology stack is a multi-channel digital platform: the HEF Student Portal (portal.hef.co.ke) handles loan and scholarship applications, the USSD self-serve channel (*642#) enables M-PESA-linked withdrawals and balance checks for feature-phone users, and the HELB Mobile App is available on Google Play and Apple App Store. M-PESA (Safaricom) functions as the primary disbursement and repayment rail, and the system supports automated mean-testing scoring for applicant assessment, mandatory financial literacy delivery, and a credit life insurance scheme covering all disbursed loans including partner funds. Service is also delivered through 28 Huduma Centre desks distributed across Kenya and a national contact centre.

HELB's business model rests on four revenue streams: (1) annual Treasury allocations from the Kenyan National Government via The National Treasury (the dominant stream), (2) statutory loan repayments collected via employer payroll deductions enforced by law, (3) partner fund administration fees charged to corporations, county governments, foundations, and government agencies that channel education funding through HELB's infrastructure, and (4) small-scale fees including a Ksh 3,000 postgraduate scholarship application fee, Ksh 15 per USSD transaction, and voluntary individual donations (Ksh 1.9M mobilised to date). Loan interest rates are statutorily set at 4-6% per annum, far below commercial lending rates, reflecting HELB's public-purpose mandate rather than profit orientation.

Name

The Higher Education Loans Board

Legal name

The Higher Education Loans Board

Website

https://helb.co.ke

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

51–100 employees

Short description

The Higher Education Loans Board (HELB) is a Kenyan government statutory body that administers revolving higher education loans, scholarships, and partner fund schemes for university, TVET, and postgraduate students across Kenya, delivered via a digital portal, USSD *642#, mobile app, and M-PESA.

Ownership category

akta.pro rank

Product category

Higher Education Finance (Student Loans and Scholarships)

NAICS

Credit Intermediation and Related Activities (522), Other Nondepository Credit Intermediation (52229)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Personal Credit Institutions (6141)

akta.pro primary industry

Student Loan Programs & Servicers (Public/Nonprofit) (EDADAHAE)

akta.pro secondary industry

Scholarships, Grants & Education Benefits Administration (Financing-adjacent) (FSAKAEAM)

Keywords

• Student loan financing
• Higher education loans
• Tertiary education funding
• Loan recovery services
• Revolving fund management

Headquarters

HQ city

Nairobi

HQ country

Kenya

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Government Treasury Allocation: HELB receives annual allocations from the Kenyan National Government via The National Treasury as its primary funding source. These exchequer funds are used to disbursement loans to eligible students. This is the dominant and most significant revenue stream.
2. Loan Repayments: HELB recovers loans as statutory payments. Employers in Kenya are legally compelled to deduct HELB loan repayments from employees' salaries and remit them. HELB also works with strategic partners including KRA, NHIF, and NSSF to trace beneficiaries and ensure optimal recoveries. Loan repayments constitute a revolving income stream that sustains the fund.
3. Partner Fund Administration Fees: HELB charges service/administration fees for managing partner funds on behalf of corporations, county governments, foundations, and government agencies. The service contract outlines the fees applicable for administering each fund. This represents a quasi-professional services revenue stream.
4. Individual Donations: HELB's Individual Donation Fund accepts voluntary donations, including from loan beneficiaries who donate small amounts while repaying their HELB loans. Through these donations, HELB has mobilized Ksh 1.9 Million.
5. Postgraduate Scholarship Application Fee: A non-refundable application fee of KShs. 3,000 is charged via E-CITIZEN to applicants for the Postgraduate Scholarship programme. This is a nominal per-transaction fee.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

HELB provides low-interest student loans and partial scholarships to Kenyan students pursuing undergraduate, TVET, and postgraduate education at universities, technical institutions, and mid-level colleges. The Board also administers partner revolving funds on behalf of county governments, corporates, foundations, and government agencies, channeling external capital to student beneficiaries via HELB's administration infrastructure. Loan repayments are recovered through statutory employer payroll deductions and M-PESA, recycling capital to fund future cohorts.

Product overview

The Higher Education Loans Board (HELB) is a statutory body established in 1995 under the Ministry of Education in Kenya, providing student-centered financing for tertiary education. Its product portfolio is organized around two core product lines: (1) HELB Loans — encompassing Undergraduate Loans and TVET Loans for first-time and subsequent applicants, and (2) HELB Scholarships — including Post Graduate Scholarships and Partial Postgraduate Scholarships for Master's (Ksh. 200,000) and PhD (Ksh. 450,000) programs. HELB also manages an extensive Partner Funds ecosystem with over 20 named sector-specific and institutional revolving funds covering Health (Afya Elimu Fund), Legal Sector, Maritime, Engineering, Communication, Finance, Water & Sanitation, Devolved Units (Counties & Constituencies), Civil Servants TRF, KRA TRF, and multiple corporate and institutional schemes. Digital access is provided via the HELB Student Portal (portal.hef.co.ke), USSD (*642#), and HELB Mobile App on Apple App Store and Google Play, with MPESA as the primary payment and disbursement channel.

Differentiator

Problem solved

Functional benefit

Products and services

• HELB Undergraduate Loans Loans for Kenyan undergraduate students pursuing university education, offering low interest rates to enable students to afford their studies. Covers tuition, books, stationery, accommodation, and subsistence. First-time applicants apply online via the HEF Student Portal; subsequent applicants use USSD (*642#), M-PESA Mini App, or the HELB Mobile App.
• HELB TVET Loans Loans for students pursuing Technical and Vocational Education and Training at approved TVET institutions across Kenya. Subsequent applicants can apply via USSD (*642#), HELB Mobile App, or M-PESA Mini App. Financial literacy completion is mandatory before application.
• HELB Postgraduate Scholarships Partial scholarships for Kenyan students enrolled in Master's (Ksh 200,000 for up to 2 years) and PhD (Ksh 450,000 for up to 3 years) programmes at local public or private universities recognised by the Commission for University Education (CUE). Preference given to STEM students. Non-refundable application fee of KShs. 3,000 via E-CITIZEN.
• Afya Elimu Fund (AEF) A sector-specific revolving fund providing low-interest loans at 4% per annum to needy students pursuing pre-service medical training (certificate and diploma levels) at mid-level colleges such as KMTC. Covers nursing, laboratory technology, clinical officers, and other health cadres. Mobilized Ksh 535.7 Million between 2013 and 2021, training 48,188 students (3x the original 12,500 target).
• Legal Sector Fund A sector fund collectively worth Kshs. 141.6 million established to address completion rates for law students to become advocates of the High Court. Supports students who completed undergraduate HELB funding but need financing for the Advocate Training Programme at the Kenya School of Law (KSL) and Council for Legal Education (CLE) exams.
• Maritime Education and Training Support Framework (METS) A sector-specific fund worth Kshs. 30 million established in 2020 under a MoU between the State Department for Shipping and Maritime and HELB. Supports Kenyan youth pursuing maritime education and training at institutions such as Bandari Maritime Academy, contributing to Kenya's Blue Economy objectives under the STCW 95 convention and IMO Whitelist requirements.
• Engineering Fund A TVET-level fund targeting engineering students, where partner institutions previously provided scholarships but transitioned to revolving funds with HELB for sustainability.
• Communication Fund A sector fund currently worth Kshs. 10.5 million, funded by the Kenya Institute of Mass Communication (KIMC), catering for tuition for students studying mass communication at KIMC.
• Finance Fund A fund worth Kshs. 5 million catering for tuition and exam fees for students studying accounting-related courses, funded by the KASNEB Foundation.
• Water & Sanitation Fund A sector fund currently worth Kshs. 3 million catering for tuition for students studying water and sanitation-related courses such as Plumbing at the Kenya Water Institute (KEWI).
• Devolved Units (Counties & Constituencies) Revolving Funds Revolving funds established by counties and constituencies with HELB to ensure optimal utilisation of bursary funds, reaching only the most deserving students and creating a sustainable revolving mechanism. Comprising four counties and seven constituencies, with combined funds worth Kshs. 303.9 million.
• Employer Training Revolving Funds (TRF) Employer Training Revolving Funds combining the Civil Servants TRF (worth Ksh 351.2 Million, funded by the Ministry of Public Service, providing loans at 4% p.a. to civil servants in National Government, County Governments, and National Police Service for short courses and postgraduate studies) and the KRA Staff TRF (worth Ksh 25 Million, providing loans at 4% p.a. to KRA employees for Certificate, Diploma, Undergraduate, or Postgraduate studies at KESRA or recognised universities).
• Corporates & Foundations Fund Funds established by corporate organizations and foundations through HELB for CSR implementation. Funding models range from scholarships to laptop funding to revolving funds. Collectively worth Kshs. 192.4 million. Partners include Council for Legal Education (CLE), Kenya School of Law (KSL), Kenya Maritime Authority (KMA), KIMC, KASNEB Foundation, Kenya Water Institute (KEWI), and ABSA Bank Kenya.
• Individual Donation Fund A fund where individual HELB loan beneficiaries are encouraged to donate towards the Revolving Fund as they repay their HELB loans. Through these donations, HELB has mobilized Kshs. 1.9 million.
• Bar Examination Loan (BEL) A loan for students at the Kenya School of Law (KSL) for exam fees, available to both salaried and non-salaried students. Covers exam fees only; allocation amount determined by the institution. 6% interest is charged. Can only be applied once.
• AIC Kijabe Hospital Fund A fund for students and staff of AIC Kijabe College of Health Sciences. Loans are applied online via HELB portal, with allocation amount determined by the institution, Kshs. 500 administrative fee, 4% interest rate, and recovery based on HELB loan recovery process.
• Digital Divide Data (DDD) Staff Education Fund A fund for salaried students employed by Digital Divide Data-Kenya, with allocation amount determined by the institution.
• Eastlands College of Technology Fund A fund for students at Eastlands College of Technology, with loan terms determined under HELB's fund management framework.

Quantifiable outcome

• 48,188 health trainees trained at KMTC via the Afya Elimu Fund — threefold the original 5-year target of 12,500
• +4 more outcomes

Named customers5 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature5 records

Partnerships

One partnership is on record.

• KRA, NHIF, NSSFcoreStrategic or Co-development PartnerHELB works with strategic partners including KRA, NHIF, and NSSF to trace loan beneficiaries and ensure optimal loan recoveries. These agencies assist HELB in locating borrowers and verifying their employment and income status, strengthening HELB's debt management capability.

Scale indicators16 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• MPOWER Financing: Private digital lender providing loans to international students based on future earning potential. Adjacent fintech peer showing the private-market alternative to HELB's statutory model.
• Prodigy Finance: Private fintech lender providing cross-border student loans for international master's students. Adjacent peer rather than direct competitor, but illustrating the fintech-driven direction of student financing.
• Nigeria Education Loan Fund (NELFUND): Recently established Nigerian government student loan scheme providing loans to Nigerian higher education students. Emerging functional peer with similar statutory mandate but earlier-stage operations than HELB.

Others

• Caribbean Development Bank - Student Loan Programmes: Regional development bank supporting student loan financing across Caribbean states. Thematically related through education credit intermediation but focused on a different region.

Broad incumbents

• Student Loans Company (UK): UK government agency administering student loans for higher education with PAYE-based repayment. Functionally equivalent at scale, representing the mature, larger analog of HELB's statutory loan model.
• Federal Student Aid (US Department of Education): US federal student aid office providing grants, loans, and work-study funds. Comparable in statutory scope and employer/school-channel collection, but far larger and operating in a more developed higher education financing market.

Regional players

• Higher Education Finance and Accessibility Council (Zambia): Zambian statutory body responsible for higher education student financing. Operates a similar public-sector model in a comparable Southern/East African regulatory context.

Direct peers

• National Student Financial Aid Scheme (NSFAS): South Africa's statutory student funding agency providing loans and bursaries to university and TVET students. Closest direct peer to HELB, operating a similar government-backed, employer-deducted student loan model at significantly larger scale.
• Ghana Student Loan Trust Fund: Ghana's statutory trust fund providing loans to Ghanaian tertiary students with social security-backed repayment. Comparable African government student loan agency operating in a similar institutional framework.
• Tanzania Higher Education Students' Loans Board (HESLB): Tanzania's statutory board providing higher education loans to Tanzanian students, with comparable statutory employer-deduction recovery and revolving-fund mechanics. Direct regional peer in East Africa.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/HELBpage
• YouTubeyoutube.com/user/TheHELBtube
• Facebookfacebook.com/HELBpage
• LinkedInlinkedin.com/company/higher-education-loans-board

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about The Higher Education Loans Board