Lilian is a prospective student applying for a loan to start her undergraduate work on a Bachelor of Science in Informatics degree at Strathmore University. This is her story:
My name is Lilian and I am 17 years old. I come from a single-parented family of three kids. I have two siblings: a brother and a sister.
I chose Strathmore University for several reasons. First it is the best university that offers the course I want to pursue, secondly Strathmore has the best facilities and a conducive environment for studying. Such facilities include: the well-equipped library, the student centre and to top it all off, it has the best lecturers in the country. I also chose Strathmore because of its sporting activities. Most of its teams are not only recognised in the country but also in the whole of the African continent, therefore I can join one of the teams which will improve my CV and at the same time help me discover and explore my talent in the sporting sector.
Strathmore Students are also very disciplined and hence their studies are not always disrupted by strikes or riots as is the case in many public universities in Kenya. Lastly I decided to choose Stathmore because of their mentorship program which helps guide the students in the right path and to make the right decisions in life since the mentors are people who have experience and they know how to deal with certain situations in life.
I want to pursue a Bachelor of Science in Informatics as my undergraduate programme. I need the loan to finance my education at the university since my mother cannot afford the fees required for the course. After graduating I would like to be employed for a few years until I have saved enough money to start my own IT company or become an entrepreneur.
I hope I will be able to do the course and afterwards establish my own business or company and create jobs. I also hope that I will be able to achieve all the goals I have set in life. I would also like to thank Strathmore for giving needy but bright kids an option of still pursuing their studies, with no worries, by partnering with KIVA, and I am grateful for being accorded this chance.
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.