College is a critical junction in the transition from child to adult. It’s a time when students learn to manage their own budgets and begin to understand what “cost of living” is all about. In Ghana, few students work during the school year. The job market is competitive, and much of the labor market remains informal. As a result, parents scrimp and save to get their kids through school. Sometimes, it’s just not possible to pull the fees together according to the timeline a school puts in place. But just like anywhere else, parents here feel invested in their child’s education – wanting to ensure their kids maximize opportunities by attending the best schools possible.

Recently, Stephanie and I held a focus group with a group of business clients from one of our Ghanaian partners, Opportunity International. Leaving the confines of our modern office we walked a short way to a local church where about 25 people had gathered. As we began to discuss the possibility of how Vittana might work for this community, the church began to fill with traders from throughout the community. Over the next two hours we heard over and over about the dreams these parents had for their children – visions of future doctors and politicians, lawyers and accountants. After a question that drew a number of responses, our translator turned to us and said simply, “None of them want their children to do what they do.”

During the meeting

How many parents have felt this sentiment – this almost palpable desire that one’s offspring should benefit from the blood, sweat and tears of the only work they had the option to do? That the backbreaking mornings and nights of carrying goods sold for pennies will be worth it if their offspring can get the education they didn’t have access to?  We know from many stories (and research) that microfinance has helped countless people move beyond earning just enough to get through the day. Standing in front of these microfinance participants and seeing how quickly they understood its potential for their children was an incredible testament to this model. These are people whose livelihoods continue to grow because they’ve been offered affordable credit and capital to build upon. How might their children use the same tools in their education? The opportunities feel almost endless.

As we move forward in our planning to create student loans in Ghana, I will keep the faces of these parents firmly in my mind. Each student we serve holds the potential to make their family proud by taking advantage of their education – whatever they choose to study. It’s easy to see how these students will eventually reinvest their incomes into the education of other family members and children – continuing the cycle of opportunity so often rooted first and foremost in gaining access to higher education.

The other day, I came across a what seemed like a strange clause in the policy for ASKI and Vittana’s pilot Loan for Educational Development Program (LEAP): Only third and fourth year students would qualify for a loan. I found myself wondering, what kind of impact are we making when the person has already made a commitment to go to college and already found a way to pay for it? Why loan them money to do what they already planned on doing?

After travelling to rural areas across Central Luzon and meeting with many potential borrowers, I found the answer. In providing loans to students through ASKI, Vittana is opening two doors simultaneously, one for the student and one for the parents. Let me explain. In contrast to many other countries around the world, higher education is not something that is only available to those fortunate enough to have wealthy parents, to receive a scholarship or to qualify for a loan. Even among the poorest households in the Philippines, higher education is a family effort, where many parents are determined to make sure their child goes to college and are willing to pay for it, regardless of their financial ability. Thus, it’s not a question of: “Will my son/daughter go to college?” Rather, it is a question of: “How much am I going to have to sacrifice to give my child the opportunity for a better life?” By offering loans to students who are already in school, Vittana is bringing their families out of a cycle of debt and poverty, providing opportunity for the student by keeping them in school long enough to graduate and providing opportunity to the parents by freeing up money for them to invest in their small businesses. Let me give you some examples.

Rice farmers hard at work in Central Luzon

Lourdes Andres is a rice farmer from a little province called Bongobon  in Central Luzon. Aside from rice, Lourdes earns a living by raising pigs and selling clothing and homemade rice cakes. Anna is Lourdes’ youngest daughter, who Lourdes boasts is a 3^rd year marketing student at the Nueva Ecija University of Science and Technology. No one in Anna’s family has ever gone to college, and Lourdes wants nothing more than to see her daughter graduate college. Because rice harvesting only provides seasonal income and Lourdes’ other entrepreneurial activities only make enough money for living expenses, Lourdes is in a perpetual cycle of borrowing from her neighbors in order to afford her daughter’s school: She borrows money, then pays her neighbors back after the rice harvest and gives them cavans (or sacks) of rice as interest payments. The interest payments take away potential profits she could obtain from her rice harvests, resulting in a need to borrow from them yet again. In fact, for every 1,000 pesos (about $20) she borrows, the interest is one cavan of rice worth nearly 1,000 pesos, meaning that her borrowing interest rate is 100%. No wonder she has trouble scraping by!

Lourdes’ biggest worry is that she will not be able to afford to keep her daughter in school. Over homemade rice cakes kindly provided by Lourdes, we presented the new student loan product that is now available to Anna through Vittana and ASKI. We explained to her that we could lend Anna up to 20,000 pesos per semester at a low 4% interest rate (that definitely beats 100%!), and told her that this money comes from generous individual lenders far away in the United States. We then asked her if she and her daughter would be interested in applying. While I did not understand the words of Lourdes’ response (I was speaking through a translator), her moving display of tears and smiles said enough. Yes, she would love to apply for this loan.

Maria, excitedly telling me about her daughter

Many poor families in Central and Northern Luzon are rice farmers, and this business of using sacks of rice as interest payments is quite common. Maria Concepcion Magpali is a single mother with seven children. Twenty-two year old Cheryl is the youngest, and her father died from rabies when she was just 10 months old. Cheryl attended two years of vocational school for computer programming, funded by her mother. To pay for school, Maria, like Lourdes, borrowed from friends and neighbors and paid them back with an interest of one cavan of rice per 1,000 pesos borrowed. Maria struggled a lot during Cheryl’s education, and she knows that she cannot afford to do this again. She laments that Cheryl will not be able to continue her education if she does not receive a loan.

Because ASKI is in the beginning stages of implementing an educational loan program with the help of Vittana, part of my job is assisting in marketing and getting the word out about ASKI’s newest loan product. I spend lots of time in a tricycle crisscrossing fields of rice in the sweltering heat to attend ASKI community meetings held in little huts in rural areas.

ASKI Puangi Community Center

At the community meetings (each comprised of about 20 people), I introduce myself and Vittana and present the educational loan product to interested mothers. They are all very excited to meet me (At most centers I am the first foreigner to ever attend their community meetings) and many are interested in applying their son or daughter for an educational loan. Like Maria and Cheryl, countless families become overburdened by a cycle of debt, resulting in many students dropping out after their first or second year of college. Providing loans to 3^rd and 4^th year students relieves the financial burden of the students’ families, allowing them not only to invest more in their family businesses, but also allowing their children to continue college, obtain a degree, and substantially increase their income and create a better life for themselves and their families.

*Anna Lourdes was fully funded as of September 2011. Click here to view her profile.

My time spent eating balut and riding in overcrowded tricycle taxis is coming to a close. After five months of being in the field I will return back to the United States of America and begin the next phase of my life. I pray that all the work we have done created a sufficient foundation to expand the availability of low interest student loans in this part of the world. A big step has been taken by launching our pilot programs here in the Philippines especially here on the island of Mindanao where foreign investment is extremely rare. The next step is expansion to help more students finish college and get more people to invest in education in the developing world.

Balut is a street food enjoyed all over the Philippines. It is a delicious snack enjoyed anytime of the day.

By working as a fellow for Vittana I have been able to be on the ground in a developing country to see first hand the amazing possibilities of micro finance. I feel extremely lucky to be involved in such an amazing program and I want to share some of my reflections and experiences as a Vittana fellow.

Something that I’ve been able to see first hand is how Vittana is unique compared to many other international development organizations. Vittana is empowering people in the places that it works which is a very important feature of organizations that combat poverty.

Education in itself is empowering because it enables a person to have access to knowledge making possibilities endless. However, the local microfinance institutions (MFIs) are also empowered through our partnership. It has been a revelation to see the way that our partner here, Paglaum Multi-Purpose Cooperative, has fully integrated the student loan into it’s financial services. Everyone, from the field staff to the branch managers, has taken on the responsibility of making sure this product is successful and effective. Vittana is unique in its ability to assist our partner MFIs when necessary while also enabling them to succeed with little supervision.

Field staff from PMPC marketing our student loan to students at Misamis University

Versatility is another quality that enables Vittana to be successful. Vittana is able to reach many students in many different countries because of its ability to deal with constant change.  At the beginning of the pilot here we had a difficult time reaching the amount of students we had targeted.  Many of the requirements to receive the loan were too difficult for most students to meet.  So when Sanjaya, Vittana Partnerships Manager, arrived to check in on operations we sat down with all the stake holders of the student loan program from PMPC and brainstormed. We went through the product requirements line by line to find out what needed to be revised.

Almost immediately after the requirements were implemented a steady stream of students began applying for the loan. Many more inquired about the product for the future when they would also be eligible for the loan. By adapting to various circumstances like the educational climate in different places we have been able to make sure the product we offer is the most effective and affordable one on the market.

One of the things  I had hoped to do through this experience was see first hand the effects of microfinance. I wanted to know if microfinance really worked and, if so, how effective it could be in accomplishing the goal of lifting people out of poverty. Now, after meeting so many parents and students to hear their stories first hand it is very clear the effectiveness of small-scale lending.  These loans help parents put their children through college without compromising their ability to put food on the table or keep clothes on their backs. These loans enable students to reach their dreams and fulfill the goals that may have been nearly impossible before.

A generation ago in the Philippines most people didn’t attend college and sometimes didn’t finish high school. Today, college is a almost a necessity and most people realize it is one of the most effective ways to lift themselves and their families out of poverty. With the attitude that “knowledge is power” and access to Vittana’s student loans the future looks very bright for Filipinos! Be a part of this bright future by lending to one of our many amazing students here.

Branch Manager of Plaridel branch Gena with one of our students, Gina, and her baby sister

As a Vittana Fellow I find myself often comparing my educational experience  and my life in the United States to what I see on the ground here in the Philippines. Although the Philippines is a far cry from Washington State there are still many similarities between my life there and what I see here. While growing up there were just four of us…my mother, father, older brother and me. We have a small family but what we lack in size we make up for in love. I couldn’t imagine a more loving, caring and supportive place to grow up. Having such a strong support structure allowed me to accomplish many things in my life that would have been very difficult otherwise.

Graduating from college is a good example of this. I started college at a private school in Miami, Florida because I was given the opportunity to play college soccer there. After my sophomore year I transferred to play soccer at a more competitive program and receive a more challenging education. However, things didn’t work out the way I had hoped. I was not the star of the team or even a starter in my first year playing soccer there. Classes were much more difficult than I had anticipated and I couldn’t find any courses I was interested in.

Red square over looking Mt Rainier from the University of Washington campus in Seattle, WA.

Yet after a lot of soul searching and with the support of my family things got better. I gave my best effort both on the field and in the classroom. In my senior year I played a supporting role on the field, earning my minutes and helping the team on to playoffs. We lost in the second round to the defending national champions but at the end of the season I had no regrets about my effort or my contribution to the team.

In the classroom Political Science became my passion. I recaptured the joy of learning that I had been missing and successfully graduated with a Bachelor of Arts from the University of Washington.

I have learned that with a supportive family and access to education many things are possible. Here in the Philippines “family” is one of the most important pillars of society. If you read some of the student profiles on the website it’s really apparent how many students just want to earn enough money to help their families and improve the quality of life for them. Supportive families are the norm here. In fact big supportive families are the norm, however, access to education is not the norm. Education is expensive and sending children to college is extremely difficult.  

The Commission on Higher Education (CHED) in the Philippines reported on the dropout rate in 2008; of 100 students that start school in 1st grade only 14 will graduate from college. Only 14 out of 100!

This is where Vittana comes in. What we’ve done here in the Philippines is offer financial assistance that gives families an opportunity to send their children to school and to help them graduate. Isamae Duhaylongsud’s story is a good example of what we do all over the world.

Isamae shaking hands with Maricel, Account Superviser of PMPC, during her loan disbursement in the branch office in Calamba, Misamis Occidental.

Isamae is the youngest of five siblings and is now 26 years old. She is studying information technology at Mindanao University of Science and Technology and is the first one in her family to have the opportunity to graduate from college. With this loan she plans to become a computer designer.  She says that without an education she would most likely already have children and probably be without a job.

When Isamae graduated from high school she moved to Cebu to work and earn money to help her family. She worked in several different jobs–as a hotel worker and a chamber maid. However, things are very difficult for a hotel worker in Cebu. The pay was very small and her boss was difficult to work for, constantly scolding the employees, often for no reason at all. She realized that the only way to a better life was through education. So she decided to return home and enroll in school.

Isamae is very excited to be studying now, on her way to becoming a young professional so she doesn’t have to deal with awful bosses and poor wages.

After talking to Isamae I realized how similar we are. We both aspire to have a better life and wish to find success in our future. We both hope to take care of our families and make the most of our talents. The only real difference between us is opportunity, but even now she’s well on her way to expanding those as well…thanks to her loan.

Help remove the differences between us by donating to Isamae and students like her!

[youtube]http://www.youtube.com/watch?v=qJEedBHYP3g[/youtube]

I must admit I knew very little about the Philippines before I arrived. What I did know was that it’s an archipelago in South East Asia and the only Christian nation in Asia. I knew basically nothing about what the people, politics, economy or food was like. It was a big surprise to me that there were travel warnings for the Philippines, specifically the island of Mindanao where I’d be stationed, due to kidnappings, terrorism and political corruption. I was plainly told by Vittana about the risks prior to my departure and was even given the opportunity to change my host country to one without travel warnings. However, I decided to pursue my fellowship in the Philippines.

The Philippines is a nation in turmoil. There are a lot of problems with political corruption as it is widely known that in most important elections the votes are paid for by the politician with the most money. If money doesn’t work then fear and violence are used to ensure power. Less than two years ago the Maguindanao massacre occurred where more than 50 people were murdered with small arms. They were delivering the nomination of a candidate who would oppose the governorship of the reigning family in the province of Maguindanao. 22 journalist were murdered and it became the single deadliest day for journalists in history. Even before this event the Philippines was the second deadliest place for journalists. Second only to Iraq.

Aside from political violence there is violence from extreme terrorism. In the south of the Philippines Abu Sayyaf is a serious threat. They are Islamic extremists who are responsible for bombings, kidnappings, mass killings and are said to have links to Al Qaeda. Abu Sayyaf are often connected to lawless pirates throughout the Sulu Sea making travel throughout the region extremely hazardous. Currently the group has kidnapped several people which are being held for ransom.

Philippine soldiers across the street from the Paglaum branch in Tudela

Another Islamic group that is fighting the government is the Moro Islamic Liberation Front. Possibly seen as a more legitimate group, they are fighting for self determination and the ability to govern themselves in Islamic regions of Mindanao.

There is also the New Peoples Army (NPA) which is the military arm of the Communist Party of the Philippines. Residing mostly in the jungles of remote areas throughout the Philippines the NPA has been fighting the government since 1969. The fight wages on and it is not uncommon to see Philippine soldiers in the streets armed and ready for action.

Researchers, like Patricio Justino of the Institute of Development Studies at the University of Sussex, have found that violence often exacerbates existing problems in impoverished societies. Lack of health, nutrition and education are serious side effects of widespread violence. Support from the state diminishes as more efforts are focused on military activities. Especially in places where corruption runs rampant, like here in the Philippines, very little money is invested in education. The lack of investment in human capital has long term affects for the country and seriously impairs the ability to improve the economy or combat poverty.

This is what makes Vittana’s work so important. Vittana works to combat this lack of investment in human capital. Vittana’s mission statement makes it clear that “we believe the biggest waste in the world is not oil or food or, really, any other material thing–but rather, human potential.” Vittana enables lenders to invest in students who are willing to overcome poverty, violence and any other hindrance placed in their way in order to succeed.

Average Filipino home in rural MIndanao

Cresti Luna Caliguid is a wonderful example of a student that is willing to overcome challenges in order to pursue education and make a better life for herself and her family.

Cresti Luna Caliguid’s mother passed away when she was only two years old. She is one of five children and is the second youngest. Her father is a public school teacher in Ozamiz City. As a single parent, he has somehow managed to send almost all of his children to college even on a meager teachers salary of 15,000 Philippine pesos per month($350 US dollars). Making ends meet has always been a challenge. Aware of her families financial difficulties Cresti Luna has always studied hard. Due to her hard work she received a partial scholarship at La Salle University and was also given a job at the school to help pay for her schooling. Although extremely helpful this financial assistance only covered about half of her expenses.

Sometimes Cresti doesn’t have enough money to pay for school projects, books or field trips like the CPA convention last year in Cagayan De Oro. The convention would have been a perfect opportunity to network and make vital connections that would help her land a job after graduating. However, the trip cost was well out of her price range and she had to pass up a golden opportunity.

This is a tragic and all too common story among students that I have met here in the Philippines. They scrape by with what little money available to them and are often unable to take full advantage of educational opportunities offered. For Cresti money has not prevented her from excelling in the classroom or taking part in extra curricular activities as the Chairman of the student government. This loan from Vittana is a blessing that will help her finish her Accountancy course and prepare for a successful future in business.

If you’re like us and believe in human potential then we invite you to be a part of our movement to combat poverty. Lend to one of our students here and invest in the human potential of students like Cresti Luna.

[youtube]http://www.youtube.com/watch?v=ZcG2bdeWg_4[/youtube]

I would like to begin this blog entry with one of my favorite quotes: “Once in a while it really hits people that they don’t have to experience the world in the way they have been told.” Well, it ‘hit’ me at a very young age…

Me, on top of the Great Wall of China

Since the moment I was able to think beyond material needs (When is mommy going to feed me? I wanna take a nap, etc. etc.), I have always had an interest in travel and in learning about cultures beyond the ones I knew. When I was 5 years old, I boasted that my goal in life was to visit every country in the world, and once I had done that, I would become an astronaut so that I could visit other planets. Since then, I have slowly been making that goal a reality. I have traveled quite extensively during my 29 years on Earth, having so far visited 42 countries (and no, I have not been to any other planets…yet!).

My name is Kim and I will be serving as a Vittana Fellow in the Philippines for the second half of 2011. Since you will be hearing from me quite often, I thought it would be important to first give you a little background information about me.

While I had a few brief vacations outside of the United States growing up, my extensive traveling did not really begin until college. Originally a film major at the University of Colorado in Boulder, I switched to international studies in order to get into a study abroad program in Belgium. My classes there fascinated me, and being able to hear opinions on international issues from students from all over the world really opened my eyes to the cultural differences that can sometimes prove a barrier to international development. After that, film was forever placed on the back burner as a future hobby, and I continued my education in international studies. After obtaining a B.A. in International Studies, I realized that the economics side of international studies most captivated me, as it seemed to be the driving force behind the functioning of the entire world, yet I felt I had only scratched the surface of understanding what exactly international economics entailed. I needed to conquer this thing called economics, and to do so I decided to attend the University of Denver’s Graduate School of International Studies to obtain a master’s degree in Global Finance, Trade, and Economic Integration. And conquer I did, learning about the many dimensions of international economics such as inflation, exchange rates, fiscal policy, trade, taxation, labor migration, banking, capitalism, liberalism, and Marxism, to name a few.

Handing out school supplies in rural Tibet

Moreover, during one of my summers off, I traveled to Tibet with a non-profit called the Tibetan Village Project, and visited rural villages to assess their educational, healthcare, and income-generating needs. This trip, combined with my economics education, strengthened my belief that one cannot apply a blanket strategy of development to every country in the world and thus reaffirmed my opinion that top-down development approaches often do not reach the people they are intending to help. “Grassroots development or bust!”, I told myself. And my interest in microfinance was born, although at this point I didn’t call it that, because I didn’t know what microfinance was.

After graduation, I moved to San Francisco, where I got a job in finance at the Federal Reserve Bank of San Francisco. While I learned a lot there, I wanted to refocus my career towards international endeavors, and I quit my job, bought a one-way ticket to Thailand, and took off to explore the world and see what I could do to help impoverished people in less developed countries. During my year of traveling all over Southeast Asia, I learned about this thing called microfinance, and was elated to learn that there was something out there that combined all my piecemeal ideas on how best to achieve economic development into one malleable strategy that could be molded to serve the needs of whatever community it was intending to help.

Local Man in the Baliem Valley of Papua, Indonesia

When I returned from my journey, I immediately went to work looking for a way to get involved in microfinance, and spent the first few months of 2011 in Peru, volunteering as an Economic Development and Microfinance Monitor for SKIP, a small non-profit in Trujillo. There I assisted families in obtaining small business loans, helped manage a community income generation project through shoe and jewelry-making, and performed research that contributed to helping families open their first bank accounts. However, my extended time in Southeast Asia gave me a soft spot for the region, and I decided to leave Peru and try to refocus my energies on Southeast Asia. Browsing the internet for opportunities in Asia, I stumbled across Vittana. I had never heard of a microfinance non-profit that specializes in student loans, and this idea seemed brilliant to me, as it combined microfinance with what I believe to be the root cause of poverty: lack of education.

I have only been in the Philippines for 3 days, and already I am amazed at the positive attitude of everyone I meet. In fact, I am not sure how people’s faces don’t get sore from so much smiling. I think I am going to like it here (sore face-muscles notwithstanding!). During my 6 months as a Vittana Fellow in the Philippines, I am looking forward to gaining a greater understanding of microfinance in practice and I hope to help communities in the Philippines to establish a student loan framework, so that hard-working people here have the opportunity to obtain a better future for themselves and their families. At the end of my fellowship, I plan to seek a microfinance-related job either in SE Asia or in the United States, in order to continue my goal of improving the lives of people who lack the opportunity to do so on their own.

Hot, humid, busy, loud and exciting are good words to describe my experience stepping off the plane at the airport in the Philippines. My destination, you ask? A tiny, rural province called Misamis Occidental on the island of Mindanao, the second largest island of the Philippines.

Everywhere I looked, constant business activity was taking place and although I was a little loopy from traveling for two days it was very evident that this was an energetic and vigorous place. As I was driven to Plaridel, my final destination where I’d be living for the next 5 months, I noticed even on rural country roads and in small hamlets of houses that there were always people working away.

Filipino street food...delicious

Like many impoverished people of the world, Filipinos use every resource they have available to make a life for themselves. They use every scrap of food, plastic or metal to make this meal, patch that hole or cook that fish. Not only was it immediately apparent that Filipinos are resourceful, but also that they must be the happiest  and friendliest people on Earth. Every person that I meet, from the cab driver in Manila or the five Filipina ladies I live with in Plaridel, goes out of their way to accommodate and be as hospitable as possible. They are easy to laugh and joke with even in times of hardship or plight. This is a far cry from my hometown of Seattle where most people in the street hesitate to look you in the eye and are very reluctant to say hello to strangers.

After getting to know some of the people here I also noticed how dedicated, honest and sincere they are. People truly care about one another. Whether it is a beggar on the street, a co-worker or a family member Filipinos go out of their way to help one another. I constantly hear Filipinos referring to one another as brothers and sisters even though they are talking about people they do not even know.

A Filipino rice field. Like many places in Asia, rice is a staple and is consumed at nearly every single meal.

The microfinance institution that Vittana has partnered with here is the embodiment of that Filipino spirit. They are called Paglaum Multi-Purpose Cooperative or PMPC. Paglaum means “hope” in the local dialect.  PMPC provides services to the community with the goal of lifting people out of poverty. I will be spending my time in the Philippines working out of their offices and living with their employees (the five Filipinas I mentioned earlier).

PMPC started as the livelihood arm of Paglaum Community Development Foundation which is focused on “child development through a holistic approach.” The cooperative grew from 35 members and initial capital of 2,000 pesos ($500 dollars)  when it started in 1992. It now serves 30,000 members with capital of 100 million pesos ($2.5 million dollars).

The cooperative’s work with Kiva over the past few years is a good example of their dedication to service of the community. Through that partnership they have been able to provide low interest micro loans to assist entrepreneurs such as farmers, grocers and butchers to better their businesses and improve their standard of living.

A customer being helped by the always helpful staff at a Paglaum Multi-Purpose Cooperative office in Misamis Occidental.

Here at Vittana we hope to build off of that success and expand into education to empower students in this rural area. By bringing low interest student loans to this area of the Philippines we hope to make higher education attainable and assist people that need education most. Low interest student loans of this nature are quite rare in Misamis Occidental and in most places in the developing world. It is truly an honor to be able to offer a service that is in such high demand to this hard working, dedicated and under-served population.

I have no doubt that we have an amazing partner in Paglaum. While working with Kiva in less than 3 years PMPC has given loans to over 7000 entrepreneurs worth nearly 2 million dollars. Vittana’s goal to reach 1 million student loans by 2015 is definitely within reach if we continue to partner with folks as focused and ambitious as Paglaum.

Stay tuned until next time to see how things are going in the Philippines and click here to check out some of our students.

And the winner is....my first Filipino beauty pageant. The winner received $500 dollars cash prize and a year of free college tuition

Over the past few months three Vittana fellows, Charlie Gale, Kim Munn and Stefan Tangen, have been hard at work helping our three newest partners in the Philippines launch their student loan programs. Charlie, an academic exploring the theoretical components of international education, is currently enrolled in the Teachers College at Columbia University. He has been working with CCT to launch the E-Loan (Education Loan). Kim is an avid international traveler who has worked at the Federal Reserve Bank and at a microfinance institution in Peru. She is currently at ASKI where they are launching the LEAP Product (Loan for Educational Advancement Program). Stefan Tangen, who has extensive experience working in Samoa, has been hard at work launching the SEAL Product (Student Educational Assistance Loan) at PMPC.

We could not have launched these student loan programs without the help of our great fellows. As the second semester begins in late October, we are expecting to see many Filipino students on Vittana from these three partners along with those from our first partner in the Philippines, NWTF.