What is HELSB in Zambia?

The Higher Education Loans and Scholarships Board (HELSB) is a Zambian government institution established under the Higher Education Loans and Scholarships Act No. 31 of 2016. It provides student loans and scholarships to eligible Zambian citizens pursuing undergraduate studies at 10 public universities including UNZA, CBU, and others.

What is the HELSB student loan interest rate in Zambia?

The HELSB student loan interest rate is 10% per annum, effective 1 January 2024 (reduced from 15% per the Ministerial statement by Hon. Douglas Syakalima). Beneficiaries who settle their balance within the 1-year grace period after graduation do not incur interest.

When do I start repaying my HELSB student loan?

Under Section 27(3) of the HELSB Act, loan repayment begins within one year after completion of studies. A 12-month grace period is provided after graduation. Beneficiaries who settle the full balance within this grace period are not charged the standard 10% annual interest.

How is the HELSB loan monthly repayment calculated?

HELSB calculates monthly repayments using standard amortisation. The loan principal is repaid over a maximum of 120 months (10 years) at 10% annual interest. The formula produces equal monthly instalments that cover both principal and interest, with more going toward interest at the start and more toward principal as the loan matures.

Can I pay off my HELSB student loan early?

Yes. HELSB offers three repayment options: Monthly Deduction Method (standard instalments), Offset Method (single lump-sum settlement with interest only up to that month), and Ad Hoc Payments (additional payments applied directly to principal without extra interest, shortening the loan term or reducing monthly instalments).

What does the HELSB student loan cover in Zambia?

The HELSB student loan covers tuition fees, registration fees, accommodation fees (or an off-campus allowance), meal allowance (K25 per day paid monthly), book allowance (paid once per academic year), and project allowance (paid once in the final year). Loans are awarded at four support levels: 100% (full), 75% (three-quarter), 50% (half), or 25% (quarter support).

How is HELSB loan repayment calculated with an example?

Example: A loan of K75,000 repaid over 120 months at 10% per annum. Using the amortisation formula, the monthly payment is K991.12. Total amount repayable is K118,934 (K75,000 principal + K43,934 interest). Choosing a shorter repayment period reduces total interest. Settling within the 1-year grace period avoids interest entirely.

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HELSB Student Loans

Eligible Public Universities

University	Status
University of Zambia (UNZA)	Eligible
Copperbelt University (CBU)	Eligible
Kapasa Makasa University (KMU)	Eligible
Mukuba University (MKU)	Eligible
Mulungushi University (MU)	Eligible
Chalimbana University (CHAU)	Eligible
Kwame Nkrumah University (KNU)	Eligible
Palabana University (PU)	Eligible
Levy Mwanawasa Medical University (LMMU)	Eligible
Zambia University College of Technology (ZUT)	Eligible

HELSB Loan Key Facts

Interest Rate

Per annum (reduced from 15% in Jan 2024)

10%

Max Repayment

120 monthly instalments via amortisation

10 years

Grace Period

No interest if settled within grace period

1 year

Frequently Asked Questions

What is HELSB?

The Higher Education Loans and Scholarships Board (HELSB) is a government institution that provides student loans and scholarships to Zambian citizens pursuing tertiary education at 10 public universities.

What is the HELSB loan interest rate?

The interest rate is 10% per annum, reduced from 15% effective 1 January 2024. If you repay your full loan balance within the 1-year grace period after graduation, no interest is charged.

When do I start repaying my HELSB loan?

Repayment starts within 1 year of completing your studies. You have a grace period of 12 months after graduation. If you settle in full during this grace period, no interest is charged.

How is the monthly repayment calculated?

HELSB uses amortisation to calculate monthly payments. Your total loan amount is spread over up to 120 months (10 years) at 10% annual interest, with equal monthly instalments covering both principal and interest.

Can I pay off my HELSB loan early?

Yes. You can settle in a single instalment (Offset Method) and only pay interest accrued up to that month. You can also make ad hoc payments on top of your monthly instalments - these are applied directly to the principal with no extra interest.

What does the HELSB loan cover?

The loan covers tuition fees, registration fees, accommodation (on-campus or off-campus allowance), meal allowance (K25/day), book allowance (once per year), and project allowance (final year). Support levels are 100%, 75%, 50%, or 25%.

How is the HELSB loan repayment calculated? Show me an example.

Example: Your total loan is K75,000 over 120 months at 10% interest. Monthly payment = K991.12. Total repayable = K118,934. Total interest = K43,934. You can reduce interest by choosing a shorter term or making ad hoc payments.

Learn

All Posts

HELSB Loan Repayment

Official HELSB page on repayment methods, payment channels, and bank account details.

View Details

HELSB Act No. 31 of 2016

The full legislation establishing HELSB and governing student loan repayment in Zambia.

Read the Act

HELSB Student Loans Overview

Eligibility, support levels, loan coverage, and how to apply for a HELSB student loan.

Learn More

View All Posts

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Sources

#	Issuer	Description
1	HELSB	Loan Repayment Terms Official repayment rates, thresholds, and grace period information.	View
2	Parliament	HELSB Act No. 31 of 2016 Legal framework establishing the Higher Education Loans and Scholarships Board.	View

Zamcalc results are estimates only. Figures are based on publicly sourced rates from official Zambian authorities (ZRA, NAPSA, NHIMA, ZESCO, ERB, HELSB, BoZ and others) and are updated when laws or tariffs change. They should not be treated as professional tax, financial, or legal advice. Always verify with your employer, the relevant authority, or a licensed professional before making financial decisions. Zamcalc is not liable for any action taken based on these results.