ERIC Number: EJ882258
Record Type: Journal
Publication Date: 2010-Jul
Abstractor: As Provided
Reference Count: 0
The Perpetual Education Fund: Providing Higher Education Loans in the Voluntary Sector
Lough, Benjamin J.
International Journal of Educational Development, v30 n4 p345-350 Jul 2010
Although many strategies are proposed to reduce the opportunity gap in higher education between and within countries, student loans with cost recovery measures are often preferred during times of fiscal constraint. This study briefly reviews the benefits and challenges of student loans over other forms of financial aid and presents the case for voluntary sector involvement in contexts where government and market failures constrain effective solutions. It describes an innovative program that has emerged to meet this challenge--the Perpetual Education Fund. This program utilizes public-private partnerships, a large financial corpus, pre-existing administrative structures, personal relationships, local vocational schooling, and intergroup solidarity to administer loans and recover costs. Because voluntary sector participation in loan financing and administration is relatively new, the experiences and innovative survival strategies of this program have valuable implications for other emerging programs.
Descriptors: Higher Education, Student Financial Aid, Nonprofit Organizations, Private Sector, Vocational Education, Educational Development, Educational Policy, Access to Education, Educational Finance, Economics, Student Loan Programs, Paying for College, Public Sector, Program Descriptions, Partnerships in Education, Voluntary Agencies
Publication Type: Journal Articles; Reports - Evaluative
Education Level: Higher Education; Postsecondary Education
Authoring Institution: N/A