These loans are for students joining public or private universities within the East African Community directly from high school either through the Kenya Universities and Colleges Central Placement Service (KUCCPS) or as self-sponsored.
Amounts awarded range between Kshs.40,000 minimum and Kshs.60,000 maximum based on the level of need.
The loan attracts interest of 4% p.a and the students are required to repay their loans on completion of their studies.
Students are advised to apply at least one month before the opening date to allow ample time for processing.
Type of Loan Application
There are two types of undergraduate loan applications:
- First Time Application-This is for applicants who are applying for the first time.
- Second & Subsequent Application-This is for applicants who are applying for a second, third, fourth time as per the program duration
The number of loans one is eligible for depends on the program duration i.e. one is given loan 4 times for a 4 year program.