Student Loans in the Developing World

A mere three months ago, Vitanna.org was nothing but a small organization co-founded by three guys. Now, Huffington Post has chosen Mr. Chakrabarti (one of the co-founders) as "The Ultimate Game Changer in Philanthropy". Now Vitanna, an organization that pioneers student loans in the developing world, is big among charities. For "the Ultimate Game Changer in Philanthropy", Chakrabarti beat out big time charities like DonorsChoose and well known people like Mayor Bloomberg of New York. The nonprofit organization gives loans to individual borrowers through microfinance institutions. They get money from individual lenders to back loans for students seeking education but have no resources to come by it. In developing countries, some mainstream banks offer students loans, but they are often very expensive and thus unavailable to many people. Vitanna has partners in Peru, Paraguay, Nicaragua, Vietnam, and soon Mongolia. Most loans requests average about $1,000. Vitanna has helped make loans in Paraguay- $2,000 to five students and five more loans are being set up.

I think it's really good that an organization like Vitanna exists, and I think the organization truly is an "ultimate game changer". Student loans like we have in America do not exist in other countries, and Vitanna is bringing opportunities to people whose existing opportunities are meager.