Erlan dreams of becoming a professional. Erlan is currently attending Tecnologico Boliviano Aleman, working towards his degree in business. He expects to graduate in November 2013, but without a loan is unsure how he will be able to continue affording his education. His alternative would be to take time off from school to work and save money until he could return. It is important to him to graduate on time so he can enter into the job market as soon as possible.
With the loan, Erlan plans to purchase his textbooks. As an added expense, textbooks are often not bought to save money. With them Erlan hopes to be able to better understand his subjects. In addition to his responsibilities at school, Erlan currently works 30 hours a week and earns $4 a day as a welder to help afford his school and living expenses. With a career in business, he expects to earn $10 a day, a substantial increase from before.
Unfortunately, Erlan's parents never had the opportunity to complete their high school education. Without the opportunity for a higher degree, his parents never had the chance to move up. Growing up finances were always tight. With one older sibling attending college already, Erlan is unsure how he will be able to finance his education on his own.
This loan is administered by Vittana's partner Banco Fie.
More information about this loan
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.