Repayment Guide

At the end of your studies or training, you will pursue a career and contribute to the Chancen International Cameroon association by repaying a portion of your income. You will offer future generations the same educational opportunities that you had.

I. Repayment Process

Your repayment period starts in January following the year you complete your CIC-funded studies or training, once you begin your first professional opportunity. Payments will be made on the 15th of each month.

Your monthly payments are defined in your ISA (Income Share Agreement), which always sets a fixed percentage of your income. You can calculate your monthly payments by multiplying the percentage indicated in your contract by your monthly income.

If your salary isn't available by the 15th or you prefer another payment date, CIC cannot offer individual payment extensions, as this would increase the administrative burden. Ensure your payments are made on the 15th of every month.

If you encounter payment difficulties, contact us as early as possible to discuss your situation. CIC aims to remain flexible and will help as much as possible. Please note that interest will be charged for late payments. To avoid interest, make sure to always pay on time or notify us if a payment will be delayed.

In case of interruption of studies/training funded by CIC, you will need to repay the amounts financed as soon as possible.

II. Income Proof Submission

To calculate your monthly payments, you must provide a scan or photo of your income proof, such as a work contract and/or a payslip.

If you become an entrepreneur after graduation, you may not have a work contract or payslip. You may also not know your exact income yet. As a young entrepreneur, you can submit a table with your expected income and a brief explanation. We expect your income estimates to be as accurate and complete as possible, and you must inform us of any changes.

You can update us throughout the year, and we can adjust monthly payments at any time. If you find it difficult to predict your income, we recommend paying the minimum monthly payments as specified in your ISA contract. Adjustments can be made once your income becomes more predictable.

If your monthly income changes during the year, notify us by providing income proof, and we will adjust your monthly payments accordingly.

III. Request for Repayment Exemption

If you are still looking for a job at the start of the year following your graduation, you may request a repayment exemption from CIC.

If you lose your job, it is important to contact us and provide proof of termination, so we can exempt you from repayments during your unemployment. Repayments will resume once you are employed again.

You may also request an exemption in case of illness, disability, or inability to work by providing relevant medical proof.

For parental leave, you can request a repayment exemption by providing proof of maternity or paternity leave.

IV. End of Repayment Period

Your repayment period is specified in your ISA contract, defining the number of years during which you must contribute a portion of your income to CIC. Repayments will end once you have made payments for the number of years specified and have paid the additional contribution required by CIC.

Early repayment is possible through a lump-sum payment covering the total funded amount and the contribution to CIC.

You will remain a member of CIC throughout the repayment period. Once the repayment period is complete, your membership status will automatically end.