Student Loans in Kenya
Imagine being a student attending college or university, but you're low on cash. Finances are the only hindrance to you graduating, attending that class, or enrolling in that college. But don't get depressed just yet because, fortunately, loans for students living in Kenya exist.
Yes, you can have and get that borrowed money, and your dreams or ambitions do not have to be crushed. You’ll attend college, and graduating with honors is now a reality.
In this post, I will walk through some loans that a student can have access to in Kenya, plus they can start applying today.
But what’s a loan for a student? It is tailored aid paying for the university fees of students and cater to their living cost or charges. This differentiates it from a personal or payday loan.
So, without further ado, here is a list of these loans that will bring a smile to any learner.
1. KCB Masomo Loan
The Kenya Commercial Bank (KCB) is one of the biggest banks in East Africa. But they have recently ventured into or started offering loans to Kenyan learners. Their loan program is a collaboration between the bank (KCB) and another credit program called the Higher Education Loans Board. Their focus is on undergraduate and postgraduate learners from institutions of higher learning.
Therefore, you can get their loan if you are employed or working but wish to pursue or continue learning. Also, parents or guardians can take this loan for their children who are in colleges or universities. Fast processing makes it attractive and suitable to the learners.
Also, Ksh 300,000 is the amount of money you can obtain or gain, thereby can use to pay fees or other financial obligations. But KCB bank requires you to be having an account for at least 3+ months.
2. The Higher Education Loan Board (HELB)
It is a government-owned body and has been giving or handing out loans, and has assisted learners since its inception in 1995.
This loan will cover a student who is either a graduate, undergraduate, and postgraduate, therefore it can aid in continuing your education. Popularly known as HELB Loans, they are presented to learners who have difficulty financing their schooling.
The advantage of this loan is that it is given to any student from an institution of higher learning and before the commencement of an academic year.
You can be given Ksh 60,000 as the maximum and a Ksh 40,000 as the minimum amount per the academic year.
But, remember, that once you graduate, you'll have to repay the borrowed cash because defaulters get a Ksh 5,000 penalties according to the policy of HELB.
These loans for students are a way to help in the education process. Education is sometimes expensive, and life can be financially stressful as a college student. But with these loans, you can pay for accommodation; upkeep, fees, and your stress are reduced. Now, you can finally read what these academic writing companies are all about and find out who can do my homework for me. Therefore, make your life easier while you are studying by utilizing some of these loans to your advantage or favor.