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Jul 28, 2016 6:35 PM ET

Archived: Kenya – Patrick Weru: A loan of $10,200 helps to pay his tuition fees toward earning a bachelor’s in commerce.

iCrowdNewswire - Jul 28, 2016

Patrick Weru

Nairobi, Kenya / Higher education costs
Borrower image

Patrick Weru’s story

My name is Patrick and I’m from Karatina, Nyeri County.

After I lost both of my parents, my family faced a lot of difficulties in the struggle to provide for my studies. Luckily, I was able to go through my secondary life through the help of bursaries and my deceased father’s pension. I am sending my humble request to Kiva lenders, requesting them for their support to help me pursue my university degree without any school-fee difficulties.

My main aim in society is to be one of the great men who will lead the rest of the people to building up an economically stable country. Taking a business course at Strathmore is geared toward my aim of building an economically stable society.

I studied business for four years in high school. I was taught good leadership and its importance in entrepreneurial activities.

After completing my studies, I will work hard to be a good entrepreneur. Besides seeking employment, I will struggle to come up with a business plan that will help me put up my own business activity. The main aims of putting up my business are to create employment to provide opportunities for society, to make good use of available resources, and to make profit to bring positive and sustainable change to Africa and the world. 

This loan is special because:

It provides a university education. 

Kiva staff 

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.

A loan of $10,200 helps to pay his tuition fees toward earning a bachelor’s in commerce.

Contact Information:

Patrick Weru

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