Want a school fees loan? Here's a solution

for Tv47 Digital December 01, 2022, 09:42 PM
Cim Group CEO Mark van Beuningen
Cim Group CEO Mark van Beuningen: "While planning for the holidays, parents are more worried about the January school fees season." PHOTO/COURTESY

In Summary

  • The Soma Education Loan has a competitive interest rate, a flexible repayment plan and no hidden costs.
  • Group CEO Mark van Beuningen says the company wants to meet its Kenyan consumers at their point of need.  

Aspira Kenya, a leading financial institution supporting consumers and small businesses, and a member of Mauritius-based Cim Group, has launched an education loan product as part of its efforts to make parents give their children quality education and be able to pay for school fees without stress. Christened ‘Soma Education Loan’, the facility will be available to all its existing customers as well as those who complete their onboarding onto the Aspira platform.

Speaking in Nairobi during the launch, Cim Group CEO Mark van Beuningen said Aspira remains committed to meeting its Kenyan consumers at their point of need by providing simple credit solutions that help them live their best life.

“Getting timely access to cash should not be a problem especially when it affects the welfare and future of your child. Soma Education Loan by Aspira is bridging that gap by empowering parents in terms of fees so that our children can stay in school and learn,” he said.

The solution will cover all learning needs of children right from kindergarten to primary, secondary schools, training institutions and universities and parents will be able to draw up to Ksh 500,000 depending on their Aspira credit limit.

The loan has a very competitive interest rate, a flexible repayment plan and no hidden costs.

“We spoke to many parents in the country about their Christmas holiday plans, and realized that while planning for the holidays, they’re more worried about the January school fees season. This challenged us to devise this solution to pay their children’s school fees hassle-free,” Mr van Beuningen added.

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