The Higher Education Loans Board (HELB) has helped thousands of Kenyan students pursue their education. However, many graduates struggle with repayment due to poor financial planning. Managing HELB wisely is the key to financial freedom.
First, students must understand that HELB is not free money — it is a loan that must be repaid. Treating it as an income source for luxury leads to future stress. The money should be allocated primarily for fees, books, and essential upkeep.
Second, creating a repayment plan early makes a big difference. Graduates should start saving for repayment even before HELB sends reminders. For example, putting aside Ksh 500–1000 monthly during campus life helps create a repayment buffer.
Third, using HELB funds to create income opportunities is smart. Instead of spending everything on leisure, a portion can go into ventures like selling phone accessories, providing laundry services, or small-scale farming. These small investments can generate returns that ease repayment.
Fourth, graduates should communicate with HELB in case of financial difficulties. HELB allows restructuring of repayment plans. Ignoring emails or reminders only leads to penalties.
Finally, discipline is key. Many graduates delay repayment and end up with large debts that could have been avoided. By budgeting, saving, and using HELB wisely, students can finish repayment earlier and build a positive credit score for bigger financial opportunities in the future.