Justus is a student applying for a loan to complete an undergraduate degree at Strathmore University and this is his story:
I am Justus. I am the first born in a family of seven children, four of whom are in high school and two in primary school. I am currently in the third year of my studies, pursuing a degree course in Hospitality Management at Strathmore University. I have faced a lot of difficulties paying my school fees since I joined Strathmore in 2009. I come from a humble background as my parents are not in any formal employment. My dad is a local welder and my mother is a peasant farmer. I have always depended on donors and well-wishers to pay for my school fees and even to pay for my younger brothers in high school.
I am a bright student who has always maintained a top position in class. I have a lot of dreams and aspirations to help other bright but needy students access quality education and be the persons they want to be in the future. It is in this regard that I am kindly applying for this loan so as to enable me to complete my degree studies.
In addition, I would like to thank the Kiva organization for this initiative, which I count as a blessing; more so at this time when I had almost lost hope in my education due to my financial constraints. Strathmore University has always been, and will forever be, the best educational institution due to the codes of conduct that it instills in its students. The institution enables people to develop virtues and be responsible members of society once they leave campus.
In particular, studying at Strathmore has enabled me to acquire the moral virtues required of an honest and responsible citizen. This has been made possible through the units that are taught: for example, Principles of Ethics, Theology, Social and Political Philosophy, and Philosophical Anthropology among others. The dress code has also enabled me to act and carry myself in a professional manner at all times. All these qualities and culture are very rare in most public and private universities in Kenya.
After my graduation, I aspire to come up with a small business entrepreneurship, probably in the hotel industry, or get some employment which will not only enable me to pay back my loan, but will also give me an opportunity to help bright and needy students access higher education.
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.