New Hope Higher Education Loan Fund

Educational Statistics for Guatemala:
Secondary completion rate: 10.1%
Tertiary enrollment rate: 14.3 %
Pubic expenditure on education sector: 2.63% of GDP (2003 estimate)

Through impetus provided by the pilot higher education loan fund, it is made possible that over 90% of the students graduating from our rural village schooling project continue their higher educations: a figure significantly higher than the Guatemalan national average.

These revolving micro-loans are based on Guatemalan inflation figures for sustainability, as opposed to inequitable interest rates, and are overseen by a locally-elected village committee in conjunction with counsel from volunteer Guatemalan Economists. The loans are repayable upon completion of the secondary study period and viably facilitate the replenishing of finances for use by other students in pursuing their higher academic potential.

As students are loaned the resources to facilitate their academic preparation, they are enabled to acquire the practical skills which will allow them to take leadership in an increasingly competitive national and global economy.