Aspira Kenya Unveils Soma Education Loan to Finance School Fees for Up to Sh500,00

Financial company Aspira Kenya has unveiled a school financing loan facility, allowing parents to borrow school fees for their children.

Dubbed ‘Soma Education Loan’, the facility will be available to its existing customers as well as onboarded clients.

The Mauritius-based Cim Group said the loan product is part of an effort to allow parents to offer their children quality education.

Speaking while launching the product in Nairobi, Cim Group CEO Mark van Beuningen said Aspira remains committed to providing Kenyan consumers simple credit solutions, helping 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,” the CEO said.

“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 added.

 The solution will cover all learning needs of children right from kindergarten to primary, secondary schools, training institutions and universities with parents being able to draw up to Sh500,000, depending on their credit limit.

 The loan features a 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,” van Beuningen added.