Lumni provides affordable student loans to low-income youngsters, helping them build a better future.
Underprivileged students in most countries do not have sufficient capital or collateral to pay for tertiary education, which perpetuates poverty cycles. In Mexico, Colombia, Peru, and Chile, 60-75% of youngsters aged 20-24 do not have access to tertiary education; lack of financing is the main reason limiting access. Gross tertiary enrollment in the lowest income quintile in these four countries is only 8.5-20%, vs. 50-93% for the top quintile.
Lumni channels and manages funding from investors to finance tertiary education of underprivileged students in Mexico, Colombia, Peru, Chile and the USA. Students agree to pay 10-14% of their earnings over 61-72 months after graduation, in exchange for financial and academic support during schooling.
By 2021, 50’000 underprivileged students from Mexico, Colombia, Peru and Chile will have been able to attain tertiary education.
|# of new students supported||1'711||1'263||784||742||906||1'145|
|# of total students supported||6'686||7'949||8'733||9'727||10'461||11'570|
Business Innovation Award
"Premio Creatividad Empresarial" in the Finance, Banking and Insurance Products