Joan is a student applying for a loan to purchase a laptop to assist in her studies at Strathmore University and this is her story:
I am a second year student at Strathmore University taking a Bachelor's degree in Commerce. I come from a family of five. I have two sisters: the eldest is doing an engineering degree while the other is in primary school.
My parents are self-employed. It is a real struggle for them to raise money for school fees for my siblings and me. I have had a great passion for joining a university ever since I started schooling. I have a great interest in doing Business and, after a lot of research, I settled on Strathmore University because it has a good reputation and it offers quality education. It is the best business school and I wanted to go to the best.
As I move higher in my studies, a laptop has become an important asset. Currently my parents cannot afford to purchase one for me. A laptop will enhance my studies and make it easier to access notes and other important information both on campus and off campus. It will also make access to my blog easier, and I will be in a position to update it more often.
I would like to advance my studies with a Master's and would also like to start my own business.
My message to the world is to live one day at a time, enjoy life and be happy all the time. We should also grab opportunities as they come, so as not to lose out on something great.
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.