Students who fail to get a loan would also be free to appeal.
Helb recently said it needed more than Sh10 billion to fund students.
Students below 18 years of age will not get university loans after Kiharu MP Irungu Kang’ata said he would not make changes to a Bill that the President refused to sign.
Mr Kang’ata said he would not pursue a Bill that would have offered the loans to underage students because it would be difficult to raise the two-thirds majority required to override the President.