To apply for students’ loans, follow the process below:
What is the interest rate?
Repayment duration
Additional charges
How can I become eligible for students loans
To become eligible for students’ loans, the primary eligibility is
Note: Interestingly, a student can have access to loans multiple times within the duration of the study. However, the number of loans a student can get depends on the study duration as at time of loan application.
Functions of student loans agencies and financial providers
These loans agencies help students in securing loans to assist them cater for some study requirements like tuition payment, purchasing of books and course materials, accommodation and welfare. These agencies also provide guidance and advice for students on loans to finally ensure proper usage and not diverted for other purposes.
How fast can I get funds?
They release funds quickly once they approve it. To access funds easily:
How to repay student loans
You can repay your student loan through an M-Pesa account or local bank transfer. The steps includes:
Direct bank transfer
You can pay through direct bank transfer to the loan provider’s bank account number. Your loan provider can make the accounts provisioned for repayment.
Conclusion
There are several loans for students in Kenya that are being provided every day that you can access. Conduct enough research and compare lenders to make informed decisions. Hopefully, this helps the student loan application in Kenya to rise, thus helping more people access education loans.
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