Luis dreams of becoming a engineer but without a degree knows it may never be possible. Luis is currently attending the Universidad Mayor De San Andrés, working towards his degree in engineering and is specifically interested in metallurgical engineering. He expects to graduate in August, 2014 but without a loan is unsure how he will be able to continue affording his education. He shares that his alternative would be to take time off from school to work and save money until he could return.
Luis shares that it is important to him to graduate on time so he can enter into the job market as soon as possible. With a loan, Luis plans on purchasing his much needed textbooks and school supplies. With the proper books, Luis feels he will be able to study more effectively and earn better grades. In addition to his responsibilities at school, Luis currently works 30 hours a week and earns $8 a day. With a career as an engineer, he expects to earn $20 a day, a substantial increase from before.
Luis's parents were never able to complete their primary education. For his family of four, finances have always been tight. As the youngest, with an older sibling attending college already, Luis is unsure how he will be able to finance his education on his own without assistance.
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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.