Stella is a student at Strathmore. This is her story.
I am Stella from in Bungoma County. I come from a family of three and I am the second born. My father works with Water Resources Management Authority while my mother teaches at Teachers Training College. Payment of school fees has been challenging for us with my parents struggling to make ends meet despite my father's sick condition which has proven costly too. I aspire to be a professional actuary and a key volunteer in community projects. I would like to engage in other projects like KIVA with an aim of reducing dependency ratio in the society. I would like to see my dreams become a reality and therefore I requested KIVA lenders to grant me financial aid through a loan to be able to study Actuarial Science at Strathmore University, engage in community service projects and acquire skills in profession building. This loan will enable me fulfill my dreams. I pledge to comply with KIVA terms and conditions and on completion of my studies pay back the loan and be able to aid my family and other needy people in the society.
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.