My name is Hilda. I am the last born in a family of three girls; my sisters and I live with our mother.
Since my parents have been separated for thirteen years, it has been difficult for my mum to make ends meet. She does not have a stable income and hugely relies on an informal business of selling fish. When I completed secondary school, I helped my mother with supplying the fish to her customers. I am very excited about the opportunity to study bachelor of Commerce at Strathmore University but also worried about raising funds to pay for my tuition fees.
When I was in high school it was not easy for my school fees to be paid. Consequently I would be sent home and missed out on many classes, because of this challenges. I wish to apply for a Kiva loan becauseI do not want to experience the same at Strathmore University and will make the best out of this opportunity.
This loan is special because:
More about this loan
About Strathmore University:
This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.
Strathmore University is one of the leading private chartered universities in Kenya, and is a privately owned, not for profit institution. Originally established in 1961 as an Advanced-level Sixth Form College with inspiration and encouragement from Saint Josemaria Escriva, founder of Opus Dei, Strathmore University started offering degrees in 2002 before becoming fully chartered in 2008.
Strathmore University is a non-traditional Field Partner, in that they are an educational institution, not a microfinance institution. Lenders to these loans should be aware of the following:
1 – You might not begin to receive repayments on this loan for many years, and this loan may have terms as long as 11 years. The full-tuition loans administered by Strathmore University can have loan terms of up to 11 years, which includes a grace period of up to 5 years. The grace period includes the time during which the student is enrolled at the university, and the first year after graduation. During the grace period, the borrower is not required to make any repayments, and you would not receive any repayments. Please be sure the loan terms and repayment schedule of this loan suit you.
2 – Administering loans is a new activity for Strathmore University, which can increase the risk on this loan. While most Kiva Field Partners are microfinance institutions and therefore experienced at administering loans, Strathmore University’s core business is providing education, and they are inexperienced at administering loans. This partner has passed Kiva’s due diligence requirements for a non-traditional Field Partner, however lenders to this loan should be aware that this loan carries some additional risk as Strathmore University becomes more experienced with administering loans to students.
For more information on Strathmore University, and the Kiva loans they are administering, please visit the Field Partner page.