Building a World Where Anyone Can Go to College
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Building a World Where Anyone Can Go to College
- 1. Building a world where anyone can go to college Building a World Where Anyone Can Go to College
- 2. What is Vittana? Innovative non-profit organization – forever changing the global conversation about student financial aid. Mission: To fight global poverty through education micro lending—proving students are a high-impact, sustainable investment.
- 3. How much did you pay for college? How did you pay for it?
- 4. The Problem: Today 581 million young people are finishing high school but can go no further. 1. They do not have the money, savings, or support 2. They do not have access to student loans 3. In the rare case students do find loans, interest rates are usually high
- 5. The Solution: Providing access to higher education for the first time, Vittana aims to break the cycle of poverty. 1. A $1000 student micro-loan is enough for someone to reach their education goals 2. Partnering with existing micro-finance institutions, Vittana is building the first micro-loan programs for students in the developing world 3. Peer-to-peer lending
- 6. Demonstrating Change 20 programs in 11 countries Student loan repayment rate via Vittana method? 99% 291% income change – that’s bringing students up from $6/day to $18/day! By demonstrating on a global scale that young people are bankable, Vittana aims to ignite global change in education
- 7. Sample Student – Vittana Website
- 8. What Can You Do? Become a Lender Create a free account at www.vittana.org Loans start as small as $25 Be a Community Leader Tell your friends and family Start a group of lending friends on facebook or directly via the Vittana site
- 9. Contact Us - We’d Love to Hear From You! Facebook: Vittana Twitter: @vittana E-mail: questions@vittana.org Headquarters: 617 Eastlake Ave. Suite 210 Seattle, WA 98109
- 10. Don’t take our word for it… “A Hotbed of Innovation” --The Economist “Ultimate Game Changer in Philanthropy” --Huffington Post "Top 10 Most Innovative Finance Companies” --Fast Company "The next new thing in charity” --New York Times
- 11. Building a World Where Anyone Can Go to College THANK YOU
Editor's Notes
- Established in May 2009; a registered 501(c) (3); 12 core staff members with key executives board and staff from Amazon, Kiva and Unitus.
- Yes, our website is our public face (and we couldn’t do what we do without it!), but we’re more than just the peer-to-peer connection. The “real work” that we do is on the ground, directly in the countries within which we have partnerships, working hand-in-hand with Microfinance Institutions to develop student loan programs! Our non-profit isn’t a microfinance institution, but rather an innovative “game changer” for global student aid.KEY POINTS:A non-profit organizationInternationalMicrofinanceHigher education tuitions and booksLenders can be anyone, anywhere100% of loans go to the studentPayback rate is 99%Vittana is a non-profit organization focused on microfinance lending to support higher education loans to students in third world countries. Vittana partners with microcredit organizations in 11 developing countries (Nicaragua, Vietnam, Mongolia, Peru, Honduras, the Philippines, Bolivia, Paraguay, Indonesia, Ghana, and Georgia) to find qualified students looking for tuition loans generally ranging from $500 to $2000. Via our website, anyone in the world can create a profile, lend some money, and help send someone to college! Anyone can change the world!
- It cost a lot of money to send someone to college in the States. But we have family, friends, jobs, grants, scholarships, government funding, and student-friendly banks to help us get our degree. Can you imagine what it must be like in a poor developing country? The odds are abysmal. That’s why we have VITTANA.
- International education funding has primarily focused on literacy. While this gets students through their high school education, there are few options once they graduate.Today, an entire generation (YOUR generation) – 581 million young people – is finishing high school but can go no further.
- Vittana builds the first micro-loan programs for students in the developing world. Our ability to build effective student micro-loan programs in regions with almost no infrastructure is our unique contribution to the world.
- The markets we’re creating could serve millions more. Before-and-after income date shows the real impact of these loans. With fifteen programs either operating or in development, With repayment rates at 99%, we’re demonstrating that with the right MODEL (criteria/product design), poor students will repay loans. Keep in mind that the repayment rate in the United States is only ~60%.
- Vittana’s public face. What does our website do? We provide an opportunity for peer-to-peer lending where anyone (just like you) can put forth as little as $25 dollars toward another student’s loan. 100% of your money goes toward their loan. They finish school. Pay you back. Vittana credits your online account with your investment. Select another student and invest again!Here is an example of a real student seeking funding. Ishmael is from Ghana and wants to study civil engineering. The amount remaining needed for his loan is $640. This page also describes a little more about Roberto’s goals and future plans. It shows his potential income after his college degree and subsequent repayment plan (not featured). When trying to make a loan, lenders can search for specific countries, genders, areas of study, age and otherdemographics. You can follow these students on this website as they progress.
- It is amazing that for just $1000 someone can earn a graduate degree. You can be a part of it—you can greatly change their life for good. Qualified students that are posted on the Vittana website are often fully funded within three days of being spotlighted. A $25 dollar loan will not only feel good, but help that special person invest in themselves for a lifetime. Together, Vittana lenders have already given about $400,000 and sent hundreds of individuals to college.
- Become a Community Leader and take charge lending in your area! Gather friends from school, family members, teammates, or anyone and start a lending group. This is a great experience and resume building cause that is helping the world become a better place. If you can’t start your own community or be a leader, there are more than 170 groups including colleges, churches, companies, and other organizations that you can join. Follow us on Twitter and like our fan page on Facebook.
- Here are just a few things that folks have had to say about our work . . .
- Established in May 2009; a registered 501(c) (3); 12 core staff members with key executives board and staff from Amazon, Kiva and Unitus.