A quality education unleashes a world of potential. Children who stay in school are expected to live longer and healthier lives, improve their future incomes, and become better providers for their families and community. For the more than 59 million out-of-school children worldwide, access to education is the best, and perhaps the only, pathway out of poverty.
The most prevalent barriers to quality education in developing countries include high cost of education, lack of access to nearby, quality schools, and the high risk of death or disability of parents. With small loans to parents and school proprietors, many of these barriers can be overcome.
Opportunity's EduFinance program addresses barriers to quality education by fostering change in the schools and communities we serve. We offer School Improvement loans to help school proprietors build classrooms and sanitation facilities; School Fee loans to help parents manage educational costs for their children; College and Vocational loans to help students continue their education; and Youth Savings and EduSave Insurance to protect against the unexpected illness or death of a parent.
As a result of the demand for high quality schools, our clients have achieved a 95% repayment rate, which has allowed us to recycle funds and multiply the impact of donations-but we can do more. Each child deserves a chance to build a brighter future, and with your help, we can reach 2 million children by 2017. Opportunity plans to expand our EduFinance services in India and Colombia, and launch improvement initiatives to support educators in improving educational standards in their communities.