HELB Turns to Debt Collectors to Reclaim Billions of Shillings From Graduates; HOW TO REPAY

HELB Turns to Debt Collectors to Reclaim Billions of Shillings From Graduates; HOW TO REPAY

The Higher Education Loans Board (HELB) has hired debt collectors to get back the billions of dollars that graduates owe.

In a notice seen by teachersupdates.co.ke, the board asked reputable organizations with a lot of experience to submit applications for debt collection services.

Interested bidders were directed to the procurement office on the 18th floor of Anniversary Towers during normal business hours for additional information and to inspect the tender documents.

In addition, they were encouraged to see and download the corresponding detailed tender advertisements and tender papers from www.helb.co.ke/procurement or https://tenders.go.ke/.

Interested bidders must notify HELB of their participation in the bidding process by sending their contact information to the organization’s official email address.

“All bidders interested in participating in the tender must notify HELB of their participation in the tender by emailing their contact details to [email protected] in case of any further addendum,” read part of the notice.

The termination date is November 9, 2022, at 11 a.m.

In the six months before September 2022, HELB said that the number of former college students who had not paid back their loans had dropped by 20%. Consequently, Ksh10.2 billion is down to Ksh8.4 billion.

HELB disclosed that 87,391 accounts holding a total of Ksh 8.4 billion are in default, while 235,833 loan accounts worth Ksh 36.3 billion are in repayment.

Similar action was taken by the University of Nairobi (UoN) in June 2022, when it hired debt collectors to track down past students and reclaim approximately Ksh5 billion in arrears.

The goal of the debt collection program was to help the institution meet its financial obligations since most public colleges are having a hard time getting enough cash.

HOW TO REPAY

Using Mobile Payment Services: M-PESA Money Transfer: M-PESA (Safaricom)

• Select the option to pay a bill + Enter the HELB business number, 200800
• Enter your national identification number as your account number. + Enter the amount you wish to pay.
• Enter your confidential PIN
• Validate transactions and transmit

NOTE: The transaction appears on your statement shortly after it occurs.
Employers’ Use of M-PESA (Safaricom) Money Transfer

• Upload the payment plan + Generate the E-Slip

‘+ From the M-PESA menu, select Lipa na M-PESA and then Paybill.

‘+ Input the business number 200800

‘+ For account details, input the produced E-Slip numbers, the account number, and the account type + Provide your PIN number

• You will receive a payment confirmation message.

The transaction will be reflected on the employer’s statement and posted to the loanees’ individual statements.

Bank Deposit

All payments must be made by crossed check, bankers draft, direct transfer/standing order/EFT, or cash deposit to the HELB collection account at any of the following banks:

HELB Turns to Debt Collectors to Reclaim Billions of Shillings From Graduates; HOW TO REPAY