Check out this video to hear directly from Howard and learn more about Vittana. Photo: Vittana

Microfinance, as a poverty alleviation strategy, was popularized in the development sector thanks to the work of Muhammad Yunus. Traditional microfinance loans are distributed to small business owners and entrepreneurs with the goal of increasing the scale and profits of their businesses. What is surprising is that after more than thirty years of growth and popularity, the microfinance sector has largely neglected student loan programs.

One reason for this gap is that there has yet to be a proven track record of success for such loans. It was not until Yunus was awarded a Noble Peace Prize, and the astonishingly high repayment rates from borrowers were documented, that large scale funding institutions invested their resources toward microfinance. Vittana, a startup nonprofit were I currently intern, is working to create a track record of microfinance for student loans in developing countries by using a peer-to-peer lending platform.

Student loan programs are effectively nonexistent in countries outside of the US and Europe. Vittana helps students like Howard Rene Alvarez Morales receive the funding they need to get a higher education. Howard is a 21 year-old law and business management student at the Universidad de Ciencias Comericales in Nicaragua. He is an ambitious student who goes to school on the weekends, works as a legal assistant during the week, and takes English classes at night. In order to complete his thesis and get his degree processed, his university charged him a fee of over $1,000, a large sum of money he did not have. In an interview Howard said, “The main problem I have encountered is finding the financial means to finish my degree.” Vittana was a part of Howard’s solution.

Vittana formed a partnership with the microfinance institution (MFI) AFODENIC in Managua, Nicaragua. Our staff provided the expertise, and individual small-scale lenders provided the capital needed for AFODENIC to establish a sustainable student loan program. Howard received an student loan of $1,044 and was able to pay his school fees. The law and business management degree he is working toward is projected to increase his annual income from $2,000 to $12,000. Beyond Nicaragua, Vittana has MFI partnerships in Peru, Paraguay, Mongolia, and Vietnam and will soon be expanding to additional countries. Our long-term vision is a world where students, no matter where they live, have access to higher education.

Howard is pursing his degree because what he wants most “are the means to work and succeed, and everything begins with the first step.” When that first step is a degree, it is a giant stride toward ensuring that students and their families stay out of poverty and have more sound economic futures. Thanks to Vittana, when I imagine microfinance borrowers, I no longer only see animal farmers, salon owners, and the like. I also see students like Howard.

What can you do to help?

It is because of lenders like you and me that Vittana students have access to higher education. Visit www.vittana.org to find the student you connect with and make a loan today. Alternatively, purchase a Vittana Gift Certificate to empower someone in your life to become a lender.

We’d love to hear what you think! questions@vittana.org

The Mekong River. Photo: tashandsmoked(flickr)

Before it reaches the sea, the Mekong River travels more than 2,500 miles through Tibet, China, Burma, Thailand, Laos, Cambodia and Vietnam. It is estimated that more than 60 million people depend on the river in some way. But the dams are changing the river and impacting the people who depend on it.

For better or worse, four dams are already in place and 11 are on their way, most of which will be in China.

China is working to reduce their dependence on coal, and get more power from renewable sources like hydroelectricity, according to IRIN, the UN news agency, which reports that "governments downstream claim the hydroelectric dams will cut electricity costs."

The dams currently generate over 3,000 megawatts of electricity, says Radio Free Asia. A Portland General Electric representative told me that's enough electricity to power a city about the size of Portland, Oregon — with a population of 575,000 people — for an entire year.

Besides energy, the dams also help to regulate the rivers flow. As IRIN reports, supporters are saying this is a pretty impressive perk, since the region's unpredictable rains often times cause a flood or drought.

But others, including locals, don't think so highly of the dams.

According to the Foundation for Ecological Recovery, the river's fishing industry alone is worth up to $3 billion annually, and the existing dams are already decreasing that profit. Mekong fisherman Ouy Chai tells Al Jazeera that "before you could catch 10-20 fish in one day and now you can fish all week and not catch anything." His wife says, "I'm scared. What will be left for our children and grandchildren to eat?"

In the same vein, many environmentalists are saying that the dams are harsh on the environment, causing erosion and harming biodiversity. Nguyen Huu Chien, head of the environment and natural resource management program at Can Tho University, tells Radio Free Asia that "it is like a blood vessel in the human body. When we build dams, it is like a blockage in the veins: it will definitely affect other areas."

Despite the protesting and petitioning efforts of those against the dams, IRIN reports that two new ones are currently underway.