George is a student at Strathmore. This is his story.
My name is George; a first born in a family of three. My mother passed away in 2004.
I have always wanted to study information technology and become an expert in that area - but I do not have the means to afford university education to pursue a degree course. My father, who is a painter, depends on casual labour to take care of the family and with his meager earnings which is hand to mouth and there is nothing to save for my university education.
I am glad to have been selected for KIVA loan, which will finance my studies at Strathmore University so that I can realize my dreams of becoming an Information Technology specialist. There was no other way that I could have pursued my University education were it not for KIVA loan. I feel like I have stepped into my dream. While at Strathmore I will take part in Campus KIVA activities and bring positive change to the lives of other. In Future I also intend to give to KIVA by being a lender on KIVA website.
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.