Funding students through micro finance
12 september 2010
This week’s Economist (Sept 11, 2010) covers a brief article on micro finance schemes for students. In various countries micro funds have been established to get students through college. This is said to be a better way to fight poverty than making small-business loans. There still are some challenges to be overcome, such as how to set up peer-to –peer schemes with students who come from other places. And also the longer term of the loans is quite different to regular micro finance. Another one is to come up with enforceable contracts in order to benefit millions of would-be students.
I really like and support ideas like these. Indeed education is the best way out of poverty. In a previous blog I promoted the idea of compensating CO2 emissions in education instead of trees. Education is crucial!
In the Financieele Dagblad of this Saterday I have read an interview with professor Mirjam van Praag. She runs the Amsterdam Center for Enterpreneurship (ACE). And she proves that education is not just key for talents in developing countries. Van Praag states that a good education for entrepreneurs yields a higher return than for the people they employ. Econometric models prove this effect.
This is just the kind of stimulus I need to contact a university and organize my next bit of education. I’ll find out where I should place my bet in order to yield the best return.
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