Oudomphaktra is committed to studying hard with the loan funded because he realizes that an education will give him the opportunity to get a high-paying job that will allow him to support his parents when they get older. Though he is the borrower of the loan, his parents, who are not included in the picture, will be responsible for the principal repayments, so during his studies he plans to find part-time work in order to help his parents repay the loan.
Oudomphaktra appreciates the help of people all around the world who have contributed to programs like Kiva via its partners HKL which have supported his education as well as other students.
More information about this loan
This loan is part of HKL's new higher education loan program, designed to help students pursuing university degrees to afford tuition and other school-related expenses. Through this program, HKL expects to increase the number of Cambodians with access to higher education and better-paying jobs. Ultimately, it aims to reduce poverty and aid economic development in Cambodia. HKL has designed this loan product to meet student needs including a lower interest rate, grace period on principal while the student is in school, and longer loan term.
Please be advised that this loan might carry a grace period while the student is in school that may result in a lengthy loan term. Please refer to the Repayment Schedule before making this loan.
About HKLHattha Kaksekar Limited is one of the largest and most successful microfinance institutions (MFIs) in Cambodia. The organization provides microfinance services to the poor, particularly women, in urban and rural areas. Kiva lenders’ funds will be used to expand the outreach of HKL’s financial services to a greater number of clients in rural areas of Cambodia.
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Success!! The loan was 100% repaid