Microloans for Education/Tuition Fees

The Poverty2Prosperity.org Education Fund is helping both students and educators with zero percent interest loans. Across all our funds, we have a 99.74% repayment rate and when repayments come in, they go right back out into new loans. Donations made now will keep making new loans for about 100 years. To date, we've made almost 400 loans and have lost less than $30. Below are details about one of our most recent loans:

Mrs Luong is 42 years old and she is married. She has two children. She has operated a food stall/restaurant selling snacks for 1 year. Luong lives in Thanh Hoa city, a semi-urban town in Thanh Hoa province. Her work is not stable, so when in her child's school starts, she doesn't have money to pay for tuition fees.

The main hardship that she faces is lack of money to keep sending her children to school. She is requesting a loan to purchase books, school supplies, clothing uniforms and to pay school fees for her children.

With her business profit, Luong hopes for her family to be healthy and happy, for her children to do well in school, and for her business to do well.

This loan is special because:
It provides children from low-income families with greater access to education.

Links:

• Poverty2Prosperity.org Web Site
• P2P Description of Funds (Education, Women, Youth, etc)

Thanks for having donated to Poverty2Prosperity.org's microloan fund for Education/Tuition Fees. When we first created this fund, we were very excited to have support for the idea that helping people get an eduction or provide an education was a great way to help people proactively break out of the cycle of poverty. Getting an education means that you have a better chance of getting and keeping a job, having stable housing, and providing education for children. Not only does this fund provide loans for tuition fees, but it also gives loans to those who are helping to provide a fruitful education to others (education providers).

To date, the P2P Education Fund has made 326 loans with a 100% repayment rate so far (with just a 0.33% loss in currency conversions) as compared to our funds on a whole which is 99.74% across 15 different funds over 8 1/2 years. I believe the repayment rate is a testament to the integrity and hard work of borrowers. Also, P2P has a team of unpaid volunteers that help to keep our costs low - 95% of all donations since P2P was founded in 2008 have gone directly to making loans. These are help-outs rather than hand-outs and when repayments are made, 100% of these funds go right back out in the form of new Education loans.

This fund is still in the early stages of growing and could use your help at any time! Because the average loan term is about 1 year and we have such a high repayment rate, donations should continue to re-fund new loans for about 100 years - that's an amazing 'renewable economic resource' and amazing bang for your donation!

Below is one of most recent loans:

Taghreed is a 41-year-old housewife and a mother of three children who all are attending schools. One child is featured with Taghreed in the photo. She is a devoted mother and very committed to her family and household.

Taghreed wishes she could provide her children with proper education and this is why she is applying for this loan to pay for her children's school transportation fees.

The needed loan is part of Al Majmoua's (the local micro-finance instituion) “Back to School” program which is solely designed to finance school-related expenses such as tuition, books, stationery, transportation and other fees for students who belong to a low-income family.

By contributing to this loan you are helping a mother pay the transportation expenses for her children’s education.

Thanks again for your support of this fund and any of our other funds - besides a general fund, we funds for Women Entreprenuers, Personal Housing, and Youth. We are also looking for a founding donation for a fund for Single Parents.

-Scott

Founder, Poverty2Prosperity.org

Links:

• Poverty2Prosperity.org Web Site
• Poverty2Prosperity.org Funds Summary
• Poverty2Prosperity.org Facebook Page