Starting today, Kiva is offering a pilot of student microloans on its site. Kiva lenders can now make loans to students in three countries: Paraguay, Bolivia, and Lebanon:
Microfinance Leader Aims to Demonstrate That Students in Developing Nations Will Repay Loans if Given The Opportunity, Helping Open The Door For Higher Education Around The World
SAN FRANCISCO, CA – September 20, 2010 – Kiva.org, the world’s first personal micro-lending website, has announced a pilot of Student Microloans on Kiva.org. Beginning today on Kiva.org, anyone can lend as little as $25 to students in three countries around the world. Founded as a means to combine the impact of microfinance with the utility of technology, Kiva is in a unique position to help lenders make a personal difference – easily, quickly and effectively – first with small business microloans and now with student microloans.
The pilot was born as a natural extension of Kiva’s mission to connect people, through lending, to alleviate poverty. Kiva Student Microloans give recipients the opportunity to gain new knowledge and skills through higher education or vocational training. As a result, these individuals will be better positioned to find jobs, support their families and grow their communities — and ultimately make a real difference in the relief of global poverty.
“In developing countries, access to funding for education doesn’t exist like it does in the United States,” said Premal Shah, president of Kiva.org. “Without being given the opportunity, students don’t have the chance to demonstrate fiscal responsibility. We believe the internet community is in a unique position to share the risk of student lending in the developing world and if these students repay their loans — as we believe they will — it could be the very impetus needed to make education accessible for everyone around the world.”
Many thanks to our field partners in Fundación Paraguaya, IMPRO, and Ameen s.a.l. for their hard work in making this pilot a reality!
To learn more about how you can help support a student, please visit www.kiva.org. You can also view Kiva’s student loans at the following link:
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