Douala, Cameroon, 7/10/2024 – Seven International University (SIU) is pleased to announce a pioneering partnership with Chancen International Cameroon (CIC), which will, for the first time in CEMAC, offer Income Sharing Agreements (ISAs) to students admitted to SIU.
What is Income Sharing Agreements (ISAs)
An Income Sharing Agreement (ISA) is a form of financing where Chancen International Cameroon invests in students’ education at an approved partner university. After graduation, students have the time to secure employment aligned with their goals. Once they start earning enough money, repayments begin based on a percentage of their income without affecting their basic needs.
How is ISA different from student loans and other financing programs?
- The first advantage of ISAs over student loans is that ISAs do not accrue interest and have a set repayment period.
- Most ISAs do not require good credit or collateral, so they are more attainable for some students than other types of financing
- The ISA with Chancen International Cameroon (CIC) equally provides pocket allowance to beneficiary students. Meaning, that apart from paying your complete tuition fees for three years, CIC gives you an optional monthly allowance of up to 100,000 CFA to support your rent and upkeep.
SIU matches words with action through this partnership
The partnership between Chancen International Cameroon and Seven International University entails that students who are successfully admitted to SIU but lack the finances to pay their fees can now apply for funding from Chancen International Cameroon – CIC.
“SIU is proud to have been selected and approved for their students to benefit from ISA program.”. “This comes after rigorous scrutiny by CIC to be sure we can train employable graduates.”. Estelle Masso Yomba, President of the Board of Overseers at Seven International University. “Since Income Sharing Agreements are provided on the basis that a student must have a job after graduation to pay back their loan, ISAs are very rare around the world.”. “SIU is privileged to be the first university that provides ISA to students in the CEMAC region and I want to thank Chancen International for vetting and approving our institution.”
By funding your education through SIU Income Sharing Agreements program, you can secure your financial future without taking on burdensome debt.
How to benefit from Income Sharing Agreement in Cameroon
The main conditions to be eligible for school financing at SIU are to:
- To be successfully admitted to a Chancen-accredited university
- Pass your selection interview.
For more information on specific requirements to apply for financial assistance click here
With CIC Income Sharing Agreements, you become an employable graduate and pay what you can afford once you start working.
About Chancen International Cameroon (CIC)
Chancen International Cameroon (CIC) is a not-for-profit organization providing an ethical financing model, called Income Sharing Agreement (ISA), for young Cameroonians to access quality tertiary education. CIC is an affiliate of Chancen International (CI), based in Rwanda.
About Seven International University (SIU)
Seven International University (SIU) is a specialized tech university that uses problem-based learning approach to train industry-ready graduates in Cameroon. SIU is authorized by MINESUP to offer STEM programs, and she is starting with Bachelor’s degrees in:
- Software Engineering
- DevOps/Cloud Engineering
- ML, AI, and Data Science
- Cybersecurity
- Digital Forensics And Incident Response (DFIR)
- Cloud Security And Data Privacy
- Business Management & Startup Building
For enquiries about this PR
Contact: [email protected]
Number: +237 652503860
