Microloans for Education/Tuition Fees

by Poverty 2 Prosperity, Inc.
Vetted

Summary

We're looking to help fund the most overlooked microloans on the lending platform we use - that is loans for educational purposes such as to pay for tuition for the borrower or the borrower's children (6-24 years old). It is a well proven fact that education provides future stability for both the individual and the family. This is one fantastic way to help lift a person or group of people out of poverty with just a help-out, not a hand-out. We enjoy a 99%+ repayment rate in our funds
$10,000.00
total goal
$9,700.00
remaining
5
donors
0
monthly donors
2
years active

Challenge

The challenge we face is that educational loans are not as popular as agricultural loans, for example. Many loans for education/tuition purposes go unfunded (loans have only 30 days to fund or they expire and don't receive the 0% interest money from us). Many children ages 6-24 are denied an opportunity to get an education which provides a stabilization effect on the family. This is a great way to use a help-out rather than a hand-out and with a 99%+ repayment track record, we can help a lot.

Solution

We will be able to directly help fund these overlooked education/tuition loans but not only that, when we add our dollars to funding the loan, it pushes the loan popularity of a particular borrower up higher and gets it more exposure with other lenders which always helps loans to have a much better chance of funding. Since these are loans, we will be able to help 400 children immediately plus more with every single repayment we receive.

Long-Term Impact

The long term effects focus on family stability. Education always provides open doors to opportunities within an established economy or for someone to add to that economy with a new business. Ultimately, the economic situation of families with educated children rapidly improves and can lift them entirely out of poverty. We can help 400 children immediately and with a 99%+ repayment rate track record, we can help more every single time a repayment is received.

Resources

http:/​/​Poverty2Prosperity.org
Main P2P Web Site
List of current operating funds at P2P
Latest P2P News

Organization Information

Poverty 2 Prosperity, Inc.

Location: Menlo Park, CA - USA
Website: http:/​/​Poverty2Prosperity.org
Project Leader:
Scott Paterson
Menlo Park, CA United States
$300 raised of $10,000 goal
 
16 donations
$9,700 to go
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