Josephat is a student at Strathmore. This is his story.
My name is Josphat. I am from a family of four children; I am the eldest. My parents have no stable income and rely on our small piece of land to cater for our needs education included. The sales from our single dairy cow and the farm products is not enough and have led to my parents struggle much to raise us. The situation was made worse by them spending a lot on my treatment. They are also paying for my brother who is in secondary and the other will be joining secondary next year.
I was born with leg problems and was forced to stay at a disabled children’s home undergoing treatment for 2 years when I was young. Despite the challenges I have worked hard and devoted to give my all to ensure their efforts are paid. I have also been involved in community based groups where we have been helping the needy in the society such as the elderly. I really need financial assistance so that I can see my dream come true and also be able to help others in the society. I look forward for your assistance and thanks in advance.
More information about this loan
While the disbursal date for this loan is listed as November 10, no money has actually been disbursed. Rather, November 10th is the start date for the next semester. This student will not receive their loan until it has been fully funded on Kiva.
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.