HELB to use auctioneering firms in loan recovery enforcement
HELB to use auctioneering firms in loan recovery enforcement
The Higher Education Loans Board (HELB) has defended its position following public concern over the alleged use of auctioneering firms to recover unpaid student loans.
This is after a loan beneficiary shared a message on their X account, indicating that their outstanding loan had been forwarded to an auctioneering firm for recovery.
The post, shared on Monday, February 23, sparked debate among Kenyans, with some questioning whether HELB had resorted to harsh enforcement tactics against defaulters.
“Dear Masta, your Higher Education Loans Board loan of Ksh210,015.79 is now at Swipe Auctioneers. Urgently pay the loan today to avoid tough recovery actions,” read part of the message.
In response, the loans board clarified that loan repayment is a statutory obligation, further adding that funds recovered from past beneficiaries are redistributed to support current and future students.
According to HELB, borrowers facing financial challenges are encouraged to proactively reach out and negotiate manageable payment plans.
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“Good morning, Masta, repaying your HELB loan helps empower the dreams of another deserving Kenyan. Take the first step today toward clearing your loan and making a lasting impact,” HELB responded.
“Kindly feel free to reach out to us via DM so we can discuss and agree on a suitable repayment plan that works best for you,” it added.
To make the loan repayment convenient, HELB provided several accessible payment channels, including the USSD code *642#, which allows beneficiaries to log in or register using their mobile phones.
After registering or logging into the platform, a beneficiary selects the loan repayment option, inputs the amount to be paid, and authorises the transaction by entering their PIN.
In addition, borrowers can use the HELB mobile application by logging in or registering. Users can select the pay loan option, confirm their phone number and repayment amount, and complete the transaction faster.
Compared to the USSD code, the app allows beneficiaries to monitor their loan balances and track payment history.
For those who prefer online services, the HELB announced its self-service portal, in which a person logs in, navigates to the loan repayment section, enters the amount they wish to pay, selects a preferred payment method, and finalises the transaction.
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