The Higher Education Loans Board works to provide students in tertiary institutions with loans for tuition fees and upkeep. The 2020 KCSE candidates have a chance to do so as from 25th of June to help them secure loans for their expenses but do you have the basic requirements to qualify for this loan?
In this article you’ll get to know the requirements and how to get to each of these requirement and secure your loan on time.
1. National Identify Card
HELB loans are only offered to Kenyan citizen above the age of 18 years and due to this you must be in possession of a valid National Identify Card to apply for the loan.
2. KRA Pin
Another crucial requirement for this process is a certificate from the Kenya Revenue Authority. This helps you when opening a bank account and registering yourself as a tax payer.
3. Bank Account
The student will require a bank account from a recognized bank in Kenya. To open a bank account, visit any bank branch with the photocopy of you Identify Card and KRA pin certificate. You’ll also need an additional fee to acquire a bank card depending on the bank’s terms about acquiring a card.
4 Two Guarantors
To complete the application you’ll need the details and copy documents of two individuals who are also recognized by the Kenya Revenue Authority as guarantors for your loan. Details you need include, their full names, staff number, contact details and details of their residential places. Make sure to ask for the copy of their ID and KRA pin certificate.
5. Your Academic Documents
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Academic details and documents are important as one is required to fill in his qualifications and attach copy of the documents for proof. These documents are secondary school and primary school result slips.
6. Parents Details and Documents
You’ll be required to fill in you parent’s or guardian’s details and attach a copy of their ID and other essential documents. In the case of a deceased parent, attach a copy of the death certificate.
9. Magistrate’s Authorization
After application, the document required a stamp from an office of a nearby magistrate. This only costs sh75.