This project funds an Education revolving fund that offers Abaki shule (stay in school) a ZERO Interest school fees loan for secondary school, groundbreaking initiative designed reduce the number of secondary school students from economically disadvantaged homes who miss out of school due to lack of finances. The loan covers 100% of school fees required per term with a partial scholarship component changing the narrative for students to promote school retention and access to quality education.
Education is the second largest expense in Kenyan households, with parents spending 40-60% of their income on it. The cost of education, including tuition fees and other needs often creates financial strain for families. Economically disadvantaged households struggle to meet these expenses due to inconsistency of income, delay in maturity of sources of income and inability to raise lump sum amount of school fees at beginning of the term result in inconsistent school attendance and dropout rates.
This project aims to provide termly student mentorship, financial literacy training for parents to plan, save for education cost of their children and access to the revolving fund to pay 100% of school fees required directly to school account for the students at the beginning of the school term. The parent pays back the school fees loan in six months and access the funds again for the next academic term or year school fees until their children finish their secondary school education.
The first impact of this project is 0 days spend out school leading school retention, improvement in academic performance, reduced vulnerability to risk of early pregnancy, drug abuse and school drop out. 100% school fees covered means parents obligation is to repay the advanced amount to revolving fund ONLY allowing the parents to manage their limited finance well and meet other needs. The project contributes to the SDG's 1 and 4 targeting equitable access to Quality Education and Zero Poverty
This project has provided additional documentation in a PDF file (projdoc.pdf).
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