Suma’s younger son named Santosh is attending Govt. High School, Bhubaneswar. He has just passed into 9th class and wants to continue his studies. He is a bright student and wishes to do well in matriculation. For this Santosh has to take good tuition, which is not affordable by his parents from their present income.
The monthly income of Suma is about Rs.8,000 which is not at all sufficient to meet her monthly expenditures. The higher education of her son is now a financial burden. Hence she formed a group with three other members from her locality and applied for financial support from Mahashakti. It will be the first cycle loan for the group. From the loan Suma will pay the tuition fees and will purchase books for her son.
The three other members of her group, Monalisha, Hemalata and Pramila, also want a loan for the education of their children. In the photo every member’s child is standing in front of their respective mother.
More information about this loan
This loan is part of Mahashakti's education program, designed to finance school tuition for poor students from urban and semi-urban parts of Odisha to attend college and university and technical institutions. Funds can be used for partial or complete payment of higher education expenses. By supporting this loan, you're enabling access to education for students with limited options.
Important note about this loanDue to Indian government regulations, if you fund this loan, you will not be repaid for at least 3 years. This borrower will likely repay your loan much sooner than that, in which case, the Field Partner may re-loan your funds to help other local borrowers. We want you to be aware of this minimum 3-year waiting period and the associated risks before making a loan to Indian borrowers on Kiva. Learn More >
About Mahashakti Foundation
Mahashakti Foundation is a public charitable trust that provides microfinance and development services in the low-income state of Odisha. Operating in the poorest region of India, the organization strives to serve rural communities, tribal groups and others living on less than USD$1 a day. In addition to microcredit, it also provides micro-savings and micro-insurance products, as well as business development, health, water and sanitation, and food security services.
This is a Group Loan
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This loan has been fully funded!