Posted on: 09/11/2010 04:52:51 Posted By: raphael Membership Level: Diamond Total Points: 11113
1. Loans for direct entrant to universitiesThese loans are awarded on the basis of the level of need of the applicant. The interest rate is 4% per annum.The loan is meant to assist students in meeting part of the tuition and upkeep.Some portion of the money is remitted to the student's bank account and the rest directly to the university, where the applicant is a registered student.2. Loans for self-sponsored contributing education studentsThe applicable interest rate is 12% per annum.These loans are awarded on the basis of the ability of the borrower to start servicing the loan immediately it is awarded. This loan goes towards meeting the cost of tution. The funds are remitted directly to the university where the applicant is registered.3. Field Attachment LoansStudents who pursue courses that require field attachment receive loans to this effect.The funds are remitted to the university for distribution among the concerned students. The interest rate applicable is 4% per annum.4. BursariesThese bursaries are awarded to students from poor families.They are meant to meet tuition costs and are remitted directly to the university where the applicant is registered.
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