Brenda Mwendwa is a student at Strathmore. This is her story.
My name is Brenda Mwendwa. I would like to undertake a Bachelor of Business Science in Financial Economics in Strathmore University. I have one elder sibling, a sister. I applied for the course at Strathmore University because of its good quality of educational services and facilities. Upon graduation, I would like to become a financial analyst in a bank. This will enable me to give investment suggestions to clients and evaluate the economic outlook on different sectors and industries.
The reason why I applied for Kiva loan is because my parents could not be able to afford the fees for the whole course. My sister also depends on my parents for financial support though she is self-employed. The Kiva loan will also ensure that I study well without any financial setbacks. In studying the course at the university, I am planning to join the Campus Kiva Club that will help me build my professional skills and participate in community service projects. I also plan to become a lender in the Kiva Organisation once I get a stable job so that I can help other needy students to acquire financial support and achieve their dreams.
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.