Great news for accounting students in Kenya! The Higher Education Loans Board (HELB) has launched a brand-new financial aid program aimed specifically at students enrolled in KASNEB-accredited accounting courses.
Officially announced on Monday, the KASNEB Foundation Loan and Bursary Scheme is here to lighten the financial load for students by covering tuition and examination costs.
This program couldn’t have come at a better time for students who are chasing their dreams in accounting and finance but may be struggling to balance the costs.
The scheme boasts student-friendly terms: a low annual interest rate of 6% and a flexible repayment plan. Borrowers will have a grace period of three years after completing their studies before repayments kick in, and they’ll have up to five years (60 months) to clear the loan.
There is, however, a one-time, non-refundable administrative fee of Ksh 500 charged when the loan is disbursed.
Who Can Apply and What’s Covered?
This loan is specifically meant for students taking KASNEB-accredited courses in recognized institutions.
Whether you’re just starting out or nearing the end of your studies, the loan can be used for tuition, as well as fees for KASNEB registration, renewals, or even exemptions.
Here are the six courses that qualify:
- Certified Public Accountants (CPA)
- Certified Secretaries (CS)
- Certified Investment and Financial Analysts (CIFA)
- Certified Credit Professionals (CCP)
- Accounting Technicians Diploma (ATD)
- Certificate in Accounting and Management Skills (CAMS)
If you’re enrolled in any of these programs, this scheme is designed to help you keep your academic journey on track.
How to Apply Step-by-Step
The whole process happens online through the HELB portal, and here’s exactly what you need to do:
- Set Up Your Account
- Start by visiting the HELB website at www.helb.co.ke.
- Register on the HELB Students’ Portal using your personal mobile number and activate your account.
- Pick Your Application Option
- Log in and head to the “Loan Application” section.
- Choose between two application options, depending on your needs:
- “KASNEB Foundation Loan and Bursary Application – Tuition Fees Only”
- “KASNEB Foundation Loan and Bursary Application – KASNEB Fees Only”
- Consent to Data Processing
- You’ll need to give consent for the collection and processing of your personal data as part of the application.
- Fill Out and Submit the Form
- Carefully fill out the application form, providing all the required information. Double-check to make sure your details are accurate before submitting.
By easing the financial strain on students, this program ensures that cost isn’t a barrier to finishing their education and becoming skilled contributors in crucial sectors.
During the launch, HELB officials highlighted the scheme’s mission. They described it as “a lifeline for students aiming to achieve their academic and professional goals.”
The program also highlights HELB’s commitment to opening up opportunities for those pursuing careers in accounting, finance, and related fields.
