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Microloan Site Kiva Extends Help to Students

by Terrence O'Brien on September 21, 2010 at 08:10 AM

Kiva Student Loans
The peer-to-peer microloan site Kiva is drastically expanding its scope with the launch of a student loan program. Traditionally, Kiva connects entrepreneurs in the developing world with lenders who are free to give as little as $25 to help a needy business person get off the ground. Now, the site is featuring students from Bolivia, Paraguay and Ecuador who need help paying for their education.

The program functions similarly to its business loans. Anyone can sign up to lend money, and track their investment from dispersal to repayment, at which point they have the option to reinvest in another student or business, or to withdraw the loan. The program is in the pilot phase now, but, if successful, Kiva CEO Premal Shah expects to extend the student loans to other countries.

Tags: bolivia, charity, ecuador, education, kiva, loans, microloans, paraguay, premal shah, PremalShah, socialnetworking, student loan, StudentLoan, studentloans, students, top

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