Vittana, the Seattle non-profit that’s facilitating micro-loans to students in developing countries, has received a $250,000 grant from Google.
Seattle tech CEOs are also backing the non-profit Vittana, whose founder Kushal Chakrabarti — a former Amazon.com employee — says that hundreds of students are getting Vittana loans every month across four continents.
When it comes to education in the developing world, student loans simply don’t exist. Although microfinancing usually raises funds for small businesses, the Seattle-based Vittana has been helping students around the world graduate from post-secondary schools by asking donors to pay for their tuition.
Like business loans, money for education can immediately steer a family out of poverty. And, so far, the Vittana record has been stellar, with a repayment rate of 99 percent,
(READ the story in GeekWire)