Part of what makes the schools sustainable is the Community Prosper Bank, which was established by a former student, the first college graduate in our program.
The bank gives micro loans to local business owners, teachers, and our own graduates to help further the development of the community.
Proceeds from interest are put right back into funding for the schools.
Interest income currently funds 20% of a school’s success grant budget.
Started pilot with $3,000 in 2011.
Now we have over 170 clients and steady monthly income.
Levels Economic Disparity
Loan customers are more economically stable community members.
Rather than pay teacher directly for better education, loan payments disperse the benefit equally to all students through the school success grants program.
School Success Grants
Funded by 20% of earned interest income plus direct donations.
Excellent Customer Rating
Pay on time & attend two school meetings a year to receive higher loan amount or lower interest. Involves community in choosing and monitoring grants.
The program can be easily replicated by other school districts (all the schools/ teachers in the designated local district can apply for grants).