NEWS UPDATE; The Ministry of Education has revealed that Students applying for the student loan scheme will have to pay a 7% interest when clearing the debt. This means that for 4Million shillings each student will get every year, it will attract an interest of 280,000 shillings. Applying for the loans has kicked off and Centenary bank is the only bank yet on board to help in the process. The bank is responsible for receiving filled in application forms and giving out loans across the country. Students who fail to repay the loan on completion of their course of study risk being imprisoned or fined 1 million shillings. Government has put aside Shs5b to kick-start the scheme which is intended to enable students from poor background to access higher education.
Posted on: Wed, 25 Jun 2014 05:46:53 +0000
Trending Topics
Recently Viewed Topics
© 2015