Established in 1991, Colfuturo is a non-profit public service institution that seeks to address a key problem in education in Colombia: How do you boost human capital and prevent brain drain at the same time
Colfuturo's solution is to help high-achieving Colombian students pursue post-graduate degrees abroad by providing financing for tuition fees and living expenses and incentivizing them to return to Colombia by forgiving a portion of their debt.
Kiva borrower Indira will use her loan to apply for a master's program in development.
By waiving 50% of loan debt for most graduate students and 25% for MBA students, Colfuturo is helping bring bright minds back to Colombia as the country pursues a brighter future through mindful and sustainable development.
In 2006, Colfuturo launched its Semillero Regional scholarship program, targeting students from more remote, lower-income regions and marginalized social groups. The three-year program is designed to help students who would not otherwise have the opportunity to pursue post-graduate degrees.
Kiva loans will help students applying for the program afford the often prohibitively expensive application costs. These include exam and application fees, document translation fees, visa expenses and transportation expenses to major cities for interviews and exams. Essentially, these loans give students the opportunity to be the first in their families to access higher education.
Since its founding, Colfuturo has sent 3,000 students to some of the best universities in the world. It hopes to support 2,000 students a year by 2014.
Coupling scholarship program grants with supportive services like language training, academic counseling and job placement helps provide resources necessary for the next generation of Colombian leaders to fulfill their potential.
In Colombia, low-income and socially-marginalized students are often excluded from higher education no matter how bright or talented they are. By working with Colfuturo, we hope to reverse this trend. Your Kiva loans will help the organization expand its student base and remove barriers standing between high-achieving students and their dreams.
Help Colombia's future leaders get the educations they deserve. Make a loan to a Colfuturo borrower today! If all loans are funded, stay tuned for more soon.
Have questions about Kiva's partnership with Colfuturo? Send them our way at blog@kiva.org.
