Innovative Education loan products help parents ge
By Ian Haisley - Director of Online Strategy
Opportunity’s Education Finance initiative makes it possible for school proprietors and families to increase children’s access to education through targeted loans to school owners and parents.
As the newest member of Opportunity’s Education Finance initiative, Opportunity Kenya developed and pilot launched school fee loans to help parents fund their children’s education. Opportunity’s Head of Education Finance, Nathan Byrd is working with Opportunity Kenya to refine its school proprietor loans designed to help private school owners them make critical improvements to their schools. With the official launch of Education Finance expected in November, Opportunity Kenya will introduce newly designed and improved products with enhanced features to meet proprietor and parents’ expressed needs as identified through focus groups.
Faith Wangui, pictured right, operates a school with an enrollment of 200 students. She started a school to meet a need in her community, equipped with an education background and a loan of $500. Over time she has invested additional loans to add classrooms for nursery through 8th grade. She has also added a kitchen to ensure the children get a meal each day. With a passion to educate the children she holds so dear, Faith follows her students very closely, personally visiting the home of any child who does not come to school to see if a doctor is needed. Striving to serve her community in a holistic way, she adds at least one orphan to her list of students who receive free tuition each year. Today, Faith is planning to use future Opportunity loans to add dormitories for students who would benefit from boarding at the school throughout the year.
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