I&M Bank, Oklahoma Christian University launch student loan scheme
I&M Bank Rwanda Plc and Oklahoma Christian University in Rwanda, on May 24, 2024, launched a student loan scheme at a discounted rate through the bank’s innovative EduFinance Programme.
This ground-breaking initiative by the two partners will provide students with discounted loans at a competitive interest rate of 14.5 per cent down from 16.5 per cent the bank usually charges, repayable within 36 months.
The EduFinance Programme is designed to make higher education more accessible and affordable, supporting Rwanda’s goal of fostering a skilled and educated workforce.
By making higher education more accessible, I&M Bank and Oklahoma Christian University in Rwanda are playing a pivotal role in advancing Rwanda’s educational landscape
Under this scheme, students who present an admission letter from Oklahoma Christian University in Rwanda and meet the bank’s EduFinance loan requirements will be able to access their loans within 48 hours, ensuring that financial barriers do not hinder their academic pursuits.
CEO of I&M Bank (Rwanda) Plc, Benjamin Mutimura, said that the partnership in swift and efficient loan disbursement to students underscores I&M Bank’s commitment to facilitating education that many are looking for.
“At I&M Bank, we are dedicated to creating financial solutions that not only delight our customers but also contribute to the socio-economic development of our communities. This EduFinance Programme aligns perfectly with our mission to support the education sector in Rwanda. By providing students with timely and affordable loans, we are investing in the future leaders of our country,” he said.
Dr Jeffery Simmons, the Dean of the School at Oklahoma Christian University, said the student loan scheme is a motivation to students to achieve their dreams.
