Economic Growth Ukraine Project #18486

Microloans for Education/Tuition Fees

by Poverty 2 Prosperity, Inc.

Project Report | Nov 23, 2016
Steady Progress w Help-Outs Rather than Hand-Outs!

By Scott Paterson | Founder

Senghong

Hi, here is a report for donors to our Microloans for Education/Tuition Fees fund. This fund helps people to get an education as well as to education providers. Just a quick reminder that November 29th (Giving Tuesday) is coming up so please keep this active project/fundraiser on Global Giving in your mind! Now to the update! We've made 245 loans in 25 different countries. We have an astounding 100% repayment rate. Are only losses to date are from currency exchange differences and that amounts to the tiny amount of just $26 since the inception of the fund since early 2015.

One of our most recent loans was made to Senghong of Kampong Chhnang Province, Cambodia. Senghong is a 20-year-old student who is pursuing a Bachelor’s degree. She is majoring in Accounting. Senghong is from Kampong Chhnang Province, Cambodia. She is short of finances to pay her tuition fees, so she would like a loan. The loan will help her to get through the fourth year at the university successfully. In the future, Senghong hopes to have enough money to run a business and have a house of her own. This loan is special because it provides children from low-income families with greater access to education.

Thanks again for your generous donation to this fund and please consider us on Giving Tuesday!

-Scott

Scott Paterson/Founder/Poverty2Prosperity.org

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Aug 29, 2016
Education Fund Going Strong!

By Scott Paterson | Founder

The Microloans for Education/Tuition Fees Fund is going strong and making a difference for both those seeking loans for education fees and for education providers alike. Poverty2Prosperity.org is all about providing microloans to help break the cycle of poverty and although we started by just supporting the working poor by providing loans to those who wanted to start or grow their business as a means to lift themselves out of poverty, we added this fund because we felt strongly that getting an education was another great way to support people who are looking for a help-out rather than a hand-out - getting an education leads to getting a job or starting a business (...and even employing others). To date, the fund has made 158 loans and we have a 100% repayment rate - not one single defaulted loan. We also make loans to education providers to allow them to get the proper resources they need to provide an effective educational experience to their students. A recent example of one of our loans is below:

Meet Hrach, a 21-year-old student from Ijevan region. Hrach currently studies at Yerevan State University (Ijevan branch). He specializes in humanitarian sciences and tries very hard to stand out among other students. Hrach shares his accommodation with his lonely mother. He is an only child in his family. According to Hrach's words, in the future he wants to become such a qualified professional that he will be able to fully support his mother. His mother runs a small grocery store and Hrach always assists her when he has some free time. He applied for this loan to pay for his tuition fee at Yerevan State University (Ijevan branch). This will give him a chance to continue studying and continue the process of becoming a true professional. Hrach thanks you wholeheartedly.

A loan of $1,325 helped to pay for tuition fee at Yerevan State University (Ijevan branch).

These type of loans empowers low-income students and has a longer loan term to help them find jobs before repaying.

P2P thanks you for supporting this fund.

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May 31, 2016
P2P Education/Tuition Microloans Fund Update

By Scott Pateson | CEO & Founder

Nancy

To date, Poverty2Prosperity.org's Education/Tuition Fees fund has made 141 loans in 24 different countries. Already, the fund has a 7/7 Social Performance rating. The fund makes loans to those seeking an education and to education providers. The fund currently has a 100% repayment rate (there was a 1.3% dollar loss simply due to currency fluctations when going back to US dollars). As soon as repayments are made they go right back out as loans to others seeking to break the cycle of poverty by getting or providing an education.

An example of one of our education loans is to Nancy in Jordan: Nancy is a 21-year-old, single lady who lives in Irbid, with her family. She is a university student majoring in Accounting. Her ‎family is facing financial crises, therefore she has all the challenges of being able to achieve her dream to complete her ‎education. The income of her father is not enough to cover her university fees, so she applied for a loan to pay for ‎her university fees where she is studing accounting.

Poverty2Prosperity (P2P) is a San Francisco Bay Area CA-based 501(c)(3) Non-Profit Microfinance organization engaged in the goal of alleviating and breaking the cycle of poverty through micro-loans and other poverty-escaping projects.

P2P is focused on providing micro-loans to developing-world entrepreneurs who would otherwise not have access to working capital from traditional banks and credit institutions. By providing a 'help out' rather than a 'hand out,' micro-loans form the basis of a renewable source of economic stimulus; once the micro-loan is paid back, it can be re-loaned to another deserving entrepreneur.

Thank you so much for supporting this fund. Please consider another donation, if possible!

-Scott Paterson (CEO & Founder)

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