The Global ISA Alliance has launched an Income Share Agreements system to help thousands of Kenyan youth access higher education without the burden of traditional loans.
The system allows students to contribute a small portion of their income only after securing employment. No payments are required if a graduate remains unemployed and no interest is charged.
Chancen Kenya Director General Gladys Mutisya said the model removes financial barriers for talented youth. More than 10,000 young people in Kenya Rwanda Ghana and South Africa have received funding through the system.
Approximately 73 percent of graduates secure jobs within one year of completing their studies. The move comes as Kenya grapples with large numbers of graduates entering a limited job market each year.