Students Photo via vancouverfilmschool
DCL
Kiva is one of our favorite microlending organizations. And rightfully so -- it was one of the first to provide microloans to entreprenures in areas and situations where they wouldn't otherwise have been able to fund their businesses. Kiva has facilitated the loaning of over $100 million to people in need, and now they're adding a new branch to their services. Kiva has made it possible to =15&sortBy=Most+Recent&queryString=personal+student+loan]loan money to students in developing countries, allowing more people to get an education who might not otherwise be able to finish school.
Anyone can lend as little as $25 to students in Bolivia, Lebanon, and Paraguay. The lending is done in the same way as Kiva's business loans -- the organization works with field partners in the three countries to find students and tailor loan offerings. The loans can be tracked through to repayment, and students have between one and three years to pay back their education loan.
However, the student loan arm of Kiva isn't necessarily a permanent thing. CEO Premal Shah states that this is still a pilot program that has to prove itself before it is extended to other countries. But there's hope it will work:
"In developing countries, access to funding for education doesn't exist like it does in the United States," said Premal Shah, president of Kiva.org, in a press release. "Without being given the opportunity, students don't have the chance to demonstrate fiscal responsibility. We believe the internet community is in a unique position to share the risk of student lending in the developing world and if these students repay their loans -- as we believe they will -- it could be the very impetus needed to make education accessible for everyone around the world."
Another organization that facilitates microloans to students -- and in fact the first to provide such a service -- is Janta Foundation. Janta Foundation uses a model similar to Kiva, only it is directed at young school children ranging from kindergarten through high school in developing countries. Their goal is to ensure as many children as possible receive a fundamental education, which will hopefully encourage them to continue into higher education and thrive as adults. The Janta Foundation feels that if children in developing countries get the right start, then the country as a whole will benefit in the long term.
Perhaps students will one day be able to start out with assistance from Janta Foundation and continue on to higher education with Kiva.
