The Higher Education Loans Board (HELB) is a state agency under the Ministry of Education, established by the Higher Education Loans Board Act to provide financial assistance to students pursuing higher education. Its primary role is to offer affordable loans, bursaries, and scholarships to eligible Kenyan students, particularly those in need.
Membership of the Higher Education Loans Board
The HELB Board consists of:
- Chairperson – Appointed by the President.
- Secretary to the Commission for Higher Education.
- Permanent Secretary, Ministry of Education (or a representative).
- Permanent Secretary, Ministry of Finance (or a representative).
- Chairperson of the Vice-Chancellors Committee for Public Universities.
- Representative of Private University Vice-Chancellors or Principals.
- Executive Director of the Federation of Kenya Employers.
- Chairperson of the Kenya Bankers Association.
- Two other persons appointed by the Cabinet Secretary for Education.
- Up to three co-opted members as the Board deems necessary.
Secretary to the Board
- Appointed by the Cabinet Secretary for Education.
- Serves as the Chief Executive Officer (CEO) of HELB.
- Responsible for day-to-day operations and implementation of Board decisions.
- Holds office for six years and is eligible for re-appointment.
Functions of the Higher Education Loans Board (HELB)
Under the Higher Education Loans Board Act, the Board is responsible for:
1. Financial Assistance for Higher Education
- Providing loans, bursaries, and scholarships to eligible Kenyan students.
- Granting loans with or without security, based on set conditions.
- Determining the maximum number of loan beneficiaries per year.
2. Loan Management and Recovery
- Setting criteria for loan disbursement, interest rates, and repayment.
- Entering contracts with financial institutions for loan recovery.
- Borrowing funds for educational financing, with approval from the Ministry of Education and Treasury.
- Taking insurance cover for loans at risk due to death, incapacity, or default.
3. Policy and Regulation
- Formulating policies to manage the Higher Education Loans Fund.
- Receiving, reviewing, and approving or rejecting loan applications.
- Setting up bursaries and scholarships to promote education.
- Maintaining relationships with organizations in Kenya and internationally to advance HELB’s mandate.
4. Investment and Fund Management
- Investing surplus funds in legally authorized investments.
- Creating additional funds as needed, with Cabinet Secretary approval.
- Receiving and managing gifts, donations, and grants for higher education financing.
5. Legal and Institutional Oversight
- Ensuring compliance with the Higher Education Loans Board Act.
- Suing or being sued in its corporate capacity.
- Acquiring, managing, and disposing of assets (both movable and immovable).
- Executing contracts and agreements for its operations.
Powers of the Higher Education Loans Board
The Board has the legal authority to:
- Sue and be sued in its corporate name.
- Enter contracts for loan recovery and financial services.
- Borrow and lend money for education financing.
- Purchase, hold, and dispose of property.
- Carry out any lawful activity necessary for higher education funding.
Conclusion
The Higher Education Loans Board (HELB) plays a crucial role in higher education financing in Kenya. By providing loans, bursaries, and scholarships, HELB ensures that students from all backgrounds have access to affordable education. It also regulates loan repayment, partners with financial institutions, and invests in sustainable funding models to support Kenya’s education system.
For more details, refer to the Higher Education Loans Board Act.
