The Higher Education Loans Board (HELB) has issued a directive to all employers to ensure that student loan deductions are submitted by the 15th of every month. This reminder, released on August 14, emphasizes timely compliance to avoid financial penalties.
Employers are required to calculate, deduct, and forward the repayment amounts for each employee with an active HELB loan. The total deductions must be uploaded via the HELB Employer Portal before generating a payment slip and completing the transfer.
Remittance Process for Employers
- Log into the HELB Employer Portal and access the Remittance tab.
- Download the CSV template and fill in employee and repayment details.
- Upload the completed file and verify the data.
- Generate the electronic payment slip reflecting the exact amount to be paid.
The system automatically excludes employees who have fully repaid their loans. Employers must ensure payment matches the e-slip amount for acceptance.
Registration and Compliance
Employers not yet registered on the portal are urged to create accounts immediately. They can search for their organisation or register it if not listed. Registered employers gain access to remittance history, employee records, and compliance certificates.
Penalties and KRA Partnership
HELB introduced a penalty of KSh 3,000 per employee for any undeclared loans or late remittances, backdated to the employee’s start date. This may result in substantial fines for long-term non-compliance.
Additionally, HELB is collaborating with the Kenya Revenue Authority (KRA) to enhance loan recovery from informal sector borrowers by leveraging KRA’s data systems.
