Chances are you’ve heard a parent or student bemoan the rising costs of higher education in the US. But the reality is that in Latin America, for many aspiring college students getting a student loan is almost virtually impossible.
Thankfully, that might be changing soon. According to this article, the Inter-American Development Bank is providing a $10 million loan to the Higher Education Finance Fund to be used for long-term student loans. This funding will give students in Guatemala, Honduras, Dominican Republic, Peru, Bolivia, and Paraguay the opportunity to attend college and pay for it once they get a job.
Right now, difficulty securing student loans is one of the main obstacles for low-income Latin American students wanting to pursue higher education. Paperseed hopes this is the beginning of a new era of higher education, where a college degree is available and affordable to all deserving students.
(Written by social media intern Willa Murphy)