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Hovik lives in Jajur village, in Shirak region, with his wife and four children (two sons and two daughters). Hovik’s elder daughter, Hripsime, is 20 years old and studies at Gyumri State Medical College. (She is in the photo with Hovik.) She is currently in her third year of study in the Department of Pharmacy.

Hovik works hard, to be able to cover his family's basic costs and provide appropriate living conditions for the family members. Because of financial difficulties that the family is currently facing, it is very difficult for Hovik to save money for his daughter's education. This is the reason he has applied for this loan. With the help of the loan, he will be able to cover Hripsime’s college tuition.

Additional Information

More information about this loan

This loan is part of SEF's new education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to higher education, graduate studies or vocational training. By supporting this loan, you're enabling access to education for students with limited options.

About SEF International

SEF’s mission is to extend business development and financial services to emerging entrepreneurs in search of productive opportunities to support their families and communities and to build bright futures for children in Armenia.

About Armenia

  • $6,300
    Average annual income
  • 160
    View loans »
    Armenia Loans Fundraising
  • $17,086,950
    Funds lent in using Kiva
  • 407.5
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $450 helped Hovik to pay for his daughter's tuition at medical college, in the department of pharmacy.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jun 25, 2014
Jul 14, 2014
Currency Exchange Loss:
Aug 17, 2015