By: Humberto Galo
The Popular University of Nicaragua (UPONIC) in Chinandega is MiCrédito’s newest partner in the development of loans for young university students in the western part of the country.
The agreement signed by MiCrédito and UPONIC this week will be in effect for one year and will allow both undergraduate and graduate students to access student loans in order to finish their university studies through the MiCrédiEstudios program.
“It is no secret that in our country most credit is not earmarked for development or for education. Credit is generally dedicated to consumption,” emphasized Hulasko Meza Soza, vice chancellor of the UPONIC.
Verónica Herrera, MiCrédito’s executive director underlined that through this partnership, young people will benefit from special interest rates and loan terms of up to 60 months.
“It is a product that has been designed from the students’ point of view and we offer loans between US$ 100 and US$ 5000. We are quite flexible in terms of the guarantee. Usually a parent or guardian acts as the co-signer for the loan,” said Herrera.