Saturday, March 6, 2010

Microloans for American Students

As I look towards what seems to be the end of my academic life- I graduate in three months- I can't help but panic about the mass of school loans that I have acquired. Its hard to get a handle on the idea that getting an education is so costly. I have always believed that education is valuable, but I can't help but wonder if my choice to get a MA degree will be worth the debt that I will probable face the majority of my adult life? I am not the only student who struggles with this dilemma, feelings that materialized March 4th in the form of nation-wide protests. I heard about an interesting, and definitely creative, idea about micro-lending for education. It's similar to the microcredit- extension of very small loans to those in poverty to spur entrepreneurship. This originated with the Grameen Bank in Bangladesh. Here is an example of this. This new idea proposes that American donors can provide school loans to American students. I know that I don't count as being in poverty, but I, like many other US students, could really use help paying for college.

Photo by Shadee Malaklou

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