Safaricom has partnered with the Higher Education Loans Board (HELB) to launch the HELB Mobile Wallet and HELB M-PESA Mini App. This partnership will enable all HELB beneficiaries to receive the upkeep portion of their student loans directly to their M-PESA account. Additionally, the HELB Mini App will allow beneficiaries to manage their accounts, access their HELB upkeep, withdraw funds, repay loans, apply for subsequent loans, view their loan status, and access their statements.
This partnership will provide beneficiaries with more convenience and enhance their experience when accessing funds and services. All beneficiaries can access all HELB services through the HELB Mini App or by dialing *642# from feature phones, an Android, or an iPhone app.
To access the HELB Mini App, all M-PESA customers can go to the “Services” section on the M-PESA Super App. Beneficiaries who have already registered their mobile phone numbers with HELB will receive a code to activate the Mini App and set a PIN for subsequent access. Beneficiaries who have not registered their mobile number with HELB will need to connect their numbers to their National ID linked to their HELB account.
Starting with first-year students making their first application, all beneficiaries will have the option to receive the upkeep portion of the HELB loan through M-PESA or the mobile wallet. This option will gradually be rolled out to existing HELB beneficiaries in their second and later year of studies, allowing them to switch to receiving their upkeep on the mobile wallet.
Safaricom and HELB are also working to integrate other mobile money services besides M-PESA into the wallet, enabling students to receive funds through those services. This feature will be deployed in the coming months.
The Higher Education Loans Board (HELB) is a state body established by an Act of Parliament – CAP 213A in 1995, mandated to provide loans, bursaries, and scholarships to Kenyans pursuing higher education in recognized Kenyan Universities and Colleges and to recover the same after completion of studies to facilitate the establishment of a revolving fund.