Your Questions Answered
We’ve put together commonly asked question to give you information about the CHANCEN Income Share Agreement.
If you have a question that you can’t find the answer to, we would love to hear from you! Please use the contact us page and a member of our team will be in touch.
How do I become a CHANCEN International member?
You are eligible for becoming a member of CHANCEN International once you are admitted to one of our Partner Education Institutions, went through the CHANCEN’s Application process, and signed the Income Share Agreement (ISA) Contract with Chancen.
Which Educational Institutions that CHANCEN International works with?
We currently offer the Income Share Agreement at Kepler, Davis College, and INES Ruhengeri.
At which level of education can I get financial support from CHANCEN International (Primary, High school, University, Master's, etc.)?
CHANCEN forms alliances with educational institutions that provide various types of certificates. Some of the institutions may offer degrees, while others offer certificates for short courses. Please check our partner institutions page to learn more about the programs funded by Chancen.
How will I pay back when I graduate from school?
Your repayment only kicks in when you are eligible for graduation and are earning 80,000 Rwf and above. Our unique algorithm ensures that you pay a percentage of your net income that does not encroach on your basic needs.
Will I need to add money to the principal paid for me (interest)?
A Chancen member will be required to pay additional money to the principal amount which we call Solidarity in Chancen Community. The additional amount will be determined based on the repayment period chosen by a member in the Repayment Agreement. However, we have a social solidarity principle whereby when you earn less, you pay less; and when you earn more, you pay more.
Do you support students who want to study abroad?
Currently, CHANCEN International only supports students doing their studies from our Partner Education Institutions based in Rwanda.
Can CHANCEN help me regardless of which local university I attend?
We do not support the students individually. We will only support you once you are admitted to one of our partner institutions.
What are the requirements in CHANCEN International’s application process?
- Being admitted to Chancen Partner Institutions.
- 10,000 Rwf Non-Refundable application fee. This is deducted from the amount financed (Principal) when the student graduates.
- You will need to be 18 years of age.
- Your ORIGINAL national ID.
- Presenting two guardians who will sign an agreement with CHANCEN
- Clear Passport photos (for both applicant and guardians)
- Your residence confirmation forms ( For both students and guardians. The template form will be provided to you by CI staff. You will need to have it signed by local leaders and then submit it back to CI)
Is it possible to be a CHANCEN Member without having guardians?
To be eligible for the ISA application, you must have two guardians. Chancen will require those guardians to sign an agreement.
I do not have any parents. Can this prevent me from submitting my application? If not, who else could I name as my guardian?
Your guardians are not limited to your biological parents. Anyone having 25 years old and above and willing to undertake the responsibilities defined in the guardian contract can be your guardian.
My guardians and I lost our national IDs, Can I still be considered eligible for the application?
If your ORIGINAL national IDs are not available, you can submit your valid passport or the national ID replacement certificates provided by Rwandan Police with the condition to provide the new national IDs once they are available. The failure to submit original IDs might result to the cancellation of your ISA contract. In that case, you are advised to immediately start the process of looking for a new National ID.
Does CHANCEN International provide full or part scholarships?
CHANCEN does not provide scholarships to the students, rather, the financial support that is repayable through the Income Share Agreement (ISA) model. The financial support offered by Chancen differs based on the employment data collected from the institution.
How can I terminate my ISA contract?
The ISA can be terminated when the repayment to CHANCEN is complete or when the contract validity is over.
What happens if I drop out of school or get suspended?
When you drop out or get suspended from school, you pay the money that CHANCEN International Rwanda paid for you from the beginning of your studies until the drop-out time.
After graduating as a CHANCEN member from one of your Partners Education Institutions/universities, can CHANCEN continue supporting me if I want to further my education (Masters, Ph.D.,...)?
We only support those who are furthering their studies in one of our partner education institutions/universities on the undergraduate level. We are not supporting postgraduate students currently.
What happens if I want to pay for myself directly to the school after spending a certain period studying and receiving CHANCEN’s financial support?
CHANCEN International Rwanda will consider you as a dropout from the CHANCEN Community and you will start to pay the money financed from the starting point of your studies up to the dropout time.
Is it possible to change the repayment period in the Repayment contract from long term to short term period i.e if I signed to pay in 8 years, is it possible to move it in 3 years?
Yes, it is possible to change from long term to short repayment period . It can only happen if the period requested falls into the early payment categories indicated in the Repayment Agreement.