Ronnie is a student at Strathmore. This is his story.
My name is Ronnie and I come from Mombasa; the Kenyan coastal region. I am the 4th born in a family of 5 children. My mother works as a primary school teacher. I am interested in the loan to assist me pay for my school fees at Strathmore University where I got admission to do a degree in commerce(BCOM).
After University I want to be a financial consultant in one of the big companies in Kenya or if offered a chance, outside the country. In the near future I hope to be leading in the fore front in the fight against poverty by first eradicating it in my family and being a role model to other people of my age by showing them that being born poor does not necessarily mean living in poverty for the rest of your life.
At Strathmore I will join the Rugby team and through Rugby promote KIVA spirit.
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.