Strathmore University in collaboration with the Commercial Bank of Africa (CBA) has established a Student Loan Scheme. This loan facility has been setup so that parents or sponsor can borrow money from CBA in order to pay fees.
The University will issue applicants with a loan recommendation and a loan repayment schedule form through the credit controller’s office. Applicants will then fill in standard loan application forms at the bank for evaluation by the bank and upon approval get the loan facility.
The loan facility is meant for parents and sponsors who wish to pay the full semester fees at the beginning of the semester or the full fees for the academic year. Interest charges will be fixed in the year in which the loan will be applied and granted. Currently, the interest rate is at 1% per month repayable over a maximum period of 12 months. Those who have obtained University authority to pay fees by installments will pay the fees subject to an installment levy of 1.5% per month.
for more about strathmore click:http://www.strathmore.edu
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