Facilitating Academic Achievements: School Fee Loans Launched

In order to assist parents and guardians, local banks and microfinance institutions in Cameroon have launched the school fees loans for the 2026/2027 academic year. Traditionally earmarked to run annually from June to October, local finance operators say these loan schemes are meant to lessen financial pressures that often come with a new academic year’s preparations. According to Benoit Essengue, a local bank’s branch Manager in Yaounde applicants must satisfy a strict set of banking and academic criteria. “Lending institutions require parents, guardians, or self-sponsored students to hold an active account in the financing institution, for at least three months, present verifiable proof of steady income, such as recent payslips or business cash flow statements, national Identity card, amongst others,” he said. Essengue further cautioned that borrowers eligible for a loan range of FCFA 200,000 to FCFA ten million, should budget for typical market interest rates ranging from 8 per cent to 12 per cent per annum. For parents like Bong Raymond, school fees loan provides vital financial relief by transforming the overwhelming upfront burden of September tuition into manageable monthly instalments. “Instead of the agonizing choic...