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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