The Best Student Loans in Kenya in just one more click
Compare the best options on the market and choose the one which best adapts to your day to day needs.
Further Below: Our Guide To Student Loans in Kenya, Everything you need to know.
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At FUNDGECKO, we take time to conduct thorough research and come up with the best student loan options. Compare the best student loan options in Kenya for free and in just a matter of minutes. Besides giving you the options, we equip you with all you need to know before you sign up and walk you through the whole application process.
Some loan providers will reimburse the funds directly to your school’s account. However, other lenders can allow you to do much more than just financing the tuition fee. The loan can be used to fend for needs related to your studies such as transportation, hostels, and the likes. Let’s delve into the options you can get with a student loan:
It’s now clear that depending on your study’s specifications, you cannot qualify for just any loan. That makes it essential to do personal research or inquire with the loan provider before applying for a loan.
In Kenya, almost every institution of higher learning has made agreements with banks or loan institutions that provide student loans. The loan institutions provide the funds before the beginning of the course and are available during the student’s admission process. These loan options have proved to be way better than other options out there, especially because they are customized to suit your course’s particular needs.
Therefore, it’s advisable to inquire whether a school has these loan options before you’re registered or admitted into the school.
Student loans in Kenya are generally cheaper than other loans. You can get a student loan with an APR as low as 6% while the fixed interest rate for other loan options is 12% in Kenya. However, the cost of your student loan depends on its terms and conditions.
Student loans also have other advantages like longer repayment periods, friendly repayment terms and in some cases, students enjoy 100% waivers (especially with HELB loans).
Seek to know if your lender will ask you to have some type of tying, which in many cases includes free tied products.
Applicants without income can also benefit from these loans if:
In this case, you can only apply for a student loan option that’s compatible with your training needs.
Yes, you can qualify for a student loan in Kenya without working if only you’re able to get guarantors with a stable source of income to step in in case you’re unable to repay the loan.
However, some entities will not approve your application if you don’t show proof of payment. This is because they only require one holder. If applying for these types of loans, be sure to have a stable job.
A student loan is referred to as good debt. This is because the loans require repayment after completion of studies and include some grace period during which the loanee can go without paying anything and in rare circumstances be required to make some payments, depending on the entity.
In many cases, beneficiaries of student loans are able to have some form of income by the time they’re required to start making repayments.
It’s very important to do personal research or inquire with an entity to know their terms and conditions before you sign up for a loan contract. This will help you plan wisely on how you’re going to make repayments in the future.
We hope that you’re going to settle for one of the listed best student loan options.
What is this page for: we’re passionate about helping you to get the best financial options in a fast and convenient way. Therefore, we marshal up all the information you need about the kind of credit you need to equip you to make a good financial decision.
Source: the information about the APR and securities has been sourced from the Central Bank of Kenya statistics, among other reliable sources.
About FUNDGECKO: we are a team of experts specializing in personal finance and home economics products. FUNDGECKO is an online comparator website that helps you to not only compare the best available student loan options but also feeds you with rich information about student loans, helping you to make a personal decision viz-a-viz your unique needs.
Note: we offer our services free of charge as FUNDGECKO obtains its income from advertising and its featured products.