Donie is a prospective student applying for a loan to start his undergraduate work on a Bachelor of Business Science degree in Actuarial Science at Strathmore University and this is his story:
I live in a humble estate in the city of Nairobi, Kenya. I am a partial-orphan. My father died when I was 7 years old. My family consists of my mother, my elder sister and I. I am an ambitious young man who does not allow setbacks to stop me from dreaming big. I have consistently maintained excellent academic grades since my primary school where I scored top marks which gained me a scholarship at a top National school. I have completed my secondary education at the school and attained excellent KCSE results.
My next plan is to earn the best degree from a prestigious university; Strathmore is my university of choice because it is the top ranked university in my country and a leader in the field of Business degrees. I have been admitted to start my first year of study in BBS - Actuarial Science at the school of Finance and Applied Economics. The university emphasizes high standards of quality, excellence, respect, ethical conduct and service, besides liaising with industries and experts for the advancement of students. These excellent programs will equip me with experience and prepare me adequately for my research work.
I need this loan because I would like to graduate with a well-recognized degree from the best university which will get me a fulfilling and a high paying career. I do not have any other source of funds to finance my education at Strathmore University. My mother who is the only surviving parent is unemployed.
After graduation, I plan to become one the best qualified actuaries, work for the best institutions in the Industry, clear my loans as early as possible, improve the living condition of my family and become one of the best CEOs of our time. As part of giving back to my society, I plan to found an organization through which bright needy youth will be sponsored to access education. Through this KIVA loan, I will be able to realize my dreams.
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.