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A New Way to Help some College Students: Zero Percent, No-Fee Loans

KENYA FORESTRY COLLEGE, KENYA, JUL 17 – The new Kenya Forestry College Student Funding Scheme will offer loans and bursaries to forestry students, aiming to boost skilled workforce and support environmental goals over five years.

  • Joshua Alferos, two semesters from an electrical engineering degree in Honolulu, ran out of money after using all financial aid and family savings.
  • He joined a new experimental pay-it-forward program run by philanthropies and businesses that loans money at zero interest, with repayment deferred until earning a minimum salary.
  • The Hawai'i Renewable Learning Fund, a $2.5 million revolving loan fund underwritten by the Harold KL Castle Foundation and others, supports low-income engineering students, with repayments recycled to help future students.
  • Alex Harris called the program an important proof of concept that extends scholarship dollars further, while Kirstin Hill said repaying loans creates opportunities for others, a source of pride noted by Tara Colton in New Jersey.
  • Although many states have considered pay-it-forward funds, most have rejected them due to high start-up costs, but pilot programs in several states aim to prove the model can fill worker shortages in critical fields.
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A new way to help some college students: Zero percent, no-fee loans

The Hechinger Report reports on a new zero percent, no-fee loan program in Hawaii helping low-income students pursue degrees, fostering a pay-it-forward model.

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Kenya Times Trending, Breaking News and Videos broke the news in on Thursday, July 17, 2025.
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