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8B Education Investments and Nelnet Bank Partner to Launch a Revolutionary Loan Program for African Students Attending US Universities
News provided byNelnet Bank
Sep 18, 2023, 4:30 PM ET
NEW YORK, Sept. 18, 2023 /PRNewswire/ -- 8B Education Investments, the first company focused exclusively on supporting African students studying at US universities with access to education finance, has partnered with Nelnet Bank to launch a revolutionary loan program aimed at providing fair and affordable loans to African students pursuing their academic dreams in the United States.
The new loan program, which is the first of its kind, addresses the financing gaps faced by African students who qualify and receive admissions to higher education in the US through fair and affordable loans. Given that students from Africa are underrepresented on college campuses, the program, which will offer loans to students at over 400 US universities, will help level the playing field and significantly increase the diversity of international students on US university campuses.
Speaking about the new loan program, Lydiah Kemunto Bosire, CEO of 8B Education Investments, said, "For generations, financing has been an insurmountable barrier facing brilliant African students who are admitted to US universities and colleges. We are thrilled to be the first company exclusively focused on democratizing access to world-class education for African students. Our partnership with Nelnet Bank will accelerate our efforts to build bridges to the world's youngest, fastest-growing, and most underserved pool of talent."
Nelnet Bank, which has committed $30 million to originate loans in support of 8B's lending program, is one of many like-minded strategic partners brought together by 8B Education Investments at the 2022 meeting of the Clinton Global Initiative under the commitment to Accelerate African Access to Global Innovation Ecosystems.
According to Andrea Moss, CEO/President at Nelnet Bank, "We are proud to partner with 8B Education Investments to help African students overcome financing challenges and pursue their academic dreams in the US. At Nelnet Bank, we believe in investing in education and in the power of diversity to transform the world. We are excited to be part of this groundbreaking initiative and look forward to supporting more students in the years to come."
For more information or to apply for a loan, please visit 8B Education Investments website at www.8b.africa
About 8B Education Investments
8B Education Investments (www.8b.Africa) is the first fintech marketplace and community platform that connects African students with fair and affordable loans to study at global universities. 8B equips students with the tools they need to level up their applications, the financing options they need to enroll, and the career support they need to realize their highest potential, thereby facilitating access to the youngest, fastest-growing, and most under-tapped talent pool in the world.
About the Clinton Global Initiative
Founded by President Bill Clinton in 2005, the Clinton Global Initiative is a community of doers representing a broad cross section of society and dedicated to the idea that we can accomplish more together than we can apart. Through CGI's unique model, more than 9,000 organizations have launched more than 3,900 Commitments to Action — new, specific, and measurable projects and programs.
About Nelnet Bank
Nelnet Bank (Member FDIC and Equal Housing Lender) was founded to help families achieve their dreams with financial knowledge and access to education. Backed by Nelnet Inc., we started by delivering smart funding options to students and families – but we've graduated to do much more. Today, our list of products includes Private Student Loans, Student Loan Refinance, Home Improvement Loans, Business CDs, and Business High Yield Savings Accounts – and we're just getting started. Wherever your journey takes you, Nelnet Bank will help you on your way. For more information, visit www.nelnetbank.com.
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