Quinter is a student applying for a loan to pay for her tuition fees to help finish her undergraduate degree at Strathmore University. This is her story:
I am Quinter, aged 18 years, from Kenya. I come from a family of 8, I am the fourth born, my three siblings have only high school qualification,one is in high school and the youngest is in primary school. I am the only one pursuing university education. I am in my first year taking an undergraduate degree in Bachelor of Business Information Technology at Strathmore University.
I completed high school with the help of well-wishers in 2010. My excellent performance and improved skills in basketball led me to be called for by the UNICEF Talent Academy where I was exposed to many clubs including an outstanding, high-level performing institution that is Strathmore University. I applied for a sports scholarship, and luckily I was awarded 75% of my tuition fees. My father is having difficulties financing the remaining 25% of the tuition fee.He is not financially stable, and besides that my small business cannot help me raise this money in a stable way.
At the end of my degree course I dream of being an IT specialist, majoring on networking. Besides that, I wish to have a chance to get my basketball to a professional level, because it has been the virtue of my assistance to my academic progression and it’s my motivator in my struggles.
Through the Strathmore media I came to know about KIVA and felt the urge to apply for the 4 year maximum tuition loan to help me out of my struggle to raise the 25% of my fees. With that at hand, I had to consider the thought to seek this loan to help see my dream come true.
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.