Nelson’s dream is to become a chemical engineer. He is currently enrolled in a university program but is struggling because he cannot afford to buy the necessary materials for his courses. Growing up with six brothers and 3 sisters his family of 10 always struggled with their finances. Both his parents are farmers and as such their income is often seasonal or dependent on the harvest. Nelson has another sibling in university, a further strain on his family’s resources. He works part time to contribute, but only takes home around $3 a day. The chemical engineering field is growing in Bolivia and Nelson is expecting to earn around $16 a day when he finds a job in this field. With this in his future, Nelson is anxious to finish school and begin working. With this income increase he could help his younger siblings go to school and together they could pull their family out of poverty.
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This loan is admnistered by Vittana's partner Banco Fie
Vittana is a nonprofit that aims to provide access to education for millions of young people struggling to overcome poverty around the world. All Vittana loans are administered by local MFIs which are vetted and approved by Vittana staff. For a list of Vittana's MFI partners, please click here.
Vittana loans provide students with degrees and certificates that lead to higher paying jobs and sustainable livelihoods. Capital to fund Vittana loans comes from its crowdfunding website, investment funds and strategic partnerships. Today, more than 6,000 students in 12 countries have received a Vittana loan and are repaying at a rate of 99.8%. With the help of the Kiva community, Vittana is expanding its work and graduating a generation beyond poverty.