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Pros and Cons of Using International Student Loans for Hostel Accommodation in Kenya

Posted By:Hao FinderHao Finder

A Comprehensive Guide to Financing Your Student Accommodation with Loans

Are you an international student looking for a way to finance your hostel accommodation in Kenya? You're not alone. Many students face the same challenge, and one solution is to take out a student loan. However, like any financial decision, there are pros and cons to consider. In this article, we'll explore the benefits and drawbacks of using international student loans for hostel accommodation in Kenya.

1: Introduction

As an international student in Kenya, finding affordable and comfortable accommodation can be challenging. Many students opt for hostels, which offer a cost-effective solution. However, paying for hostel accommodation can be a struggle, especially for those on a tight budget. One option is to take out an international student loan, but is it the right choice for you? Let's explore the pros and cons.

2: Pros of Using International Student Loans for Hostel Accommodation

Taking out an international student loan has several advantages. Firstly, it provides you with the funds you need to pay for your hostel accommodation, allowing you to focus on your studies without financial stress. Additionally, student loans often offer flexible repayment options, allowing you to choose a plan that suits your needs. Moreover, interest rates for student loans are generally lower than those for other types of loans, making them a cost-effective option.

3: Cons of Using International Student Loans for Hostel Accommodation

While there are several benefits of using international student loans for hostel accommodation, there are also some drawbacks to consider. Firstly, you'll be taking on debt, which can be stressful and impact your credit score if not managed properly. Secondly, interest rates can vary, and some loans may come with high fees and penalties for late or missed payments. Moreover, taking out a loan means that you'll have to repay it with interest, which can be a significant financial burden after graduation.

4: Repayment Options for International Student Loans

If you do decide to take out an international student loan, it's essential to understand the repayment options available to you. Typically, student loans have a grace period before repayment begins, giving you time to find a job and settle into post-graduation life. Once you start repaying the loan, you'll have the option to choose between fixed or variable interest rates, and various repayment plans are available, such as income-driven repayment, which adjusts your payments based on your income.

5: Factors to Consider Before Taking Out a Student Loan

Before taking out an international student loan, several factors should be considered. Firstly, think about how much money you'll need to borrow and whether you'll be able to repay it after graduation. Additionally, research different lenders to find the best interest rates and repayment options for you. Finally, read the terms and conditions carefully, including fees, penalties, and other costs.

6: Popular Hostel Accommodation Areas in Kenya

Now that we've covered the pros and cons of using international student loans for hostel accommodation let's take a look at some of the popular areas for student housing in Kenya. Ngara, Parklands, and Juja are all popular areas with a variety of hostel accommodation options. Ngara and Parklands are both located in Nairobi, with easy access to universities, shopping, and entertainment. Juja, on the other hand, is located in the outskirts of Nairobi and is home to several universities, including Jomo Kenyatta University of Agriculture and Technology.


Using international student loans to finance hostel accommodation in Kenya can be a good option for some students, but it's essential to consider the pros and cons before taking out a loan. Make sure to research different lenders, understand


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