Seraphine is a student applying for a loan to pay tuition fees to help her finish her undergraduate degree at Strathmore University and this is her story:
My name is Seraphine. I am currently a third year student at Strathmore University pursuing a Bachelor of Science degree in Hospitality Management. I have been performing well at Strathmore University with my second year transcript showing an average grade of A.
I come from a single parent family with my father being the sole breadwinner. He is a small-scale businessman working in the transport sector in Nairobi. I have four siblings who are still in school. This puts an even greater strain on my family's finances, as I am the firstborn.
I also make time to volunteer at a local charity's children’s home. The experience helps to further develop my interpersonal skills as well as giving me an opportunity to give back to society. Moreover, I have part-time jobs at well-known 4 star hotels to help with my upkeep and grow my work experience by honing important skills.
I know that I have great potential despite the financial limitations I currently face, as my consistently good academic performance can attest. Given the opportunity to finish my degree course at Strathmore University, I believe I will graduate as a better, more professional member of society having acquired new skills and become more ethically responsible. I am striving to be an entrepreneur in the hospitality sector and to help others in need.
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.