American RadioWorks |
The campus of the University of Chicago. Kevin Carey says most students of the future won't be going to traditional college campuses. Photo: Wikipedia.

The End of College or the University of Everywhere

When education policy wonk Kevin Carey looks into the future, he sees the end of traditional colleges and universities and he says that's a good thing.

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in collaboration with Spotlight on Poverty and Opportunity

Get banks to fund a microcredit program for poor in the United States

File under: income, microfinance, geneva global, opportunity international, HOPE International, mediamavens.com, enrichment.com

4 (1 votes)

From: Mike S., Ft. Lauderdale, FL

Microcredit (or microfinance) is working in developing countries. Poor, working people (primarily women) are given a small loan, funded by donors through an NGO (non-governmental organization), to operate a small business. This lifts them and their family out of intractable, chronic poverty.

Microcredit hasn't had a real launch in the United States, because the small loans would obviously have to be larger here than what they would be in the developing world.

Let a bank -- e.g., Bank of America -- sponsor a fund that would be targeted to poor, working people in each of the market areas of each branch bank. Monies to loan out would come in through bank customer donations (the bank could appeal to customers to give "x" dollars each month from their checking accounts), and through a percentage of the bank's own monies. The bank would work with one or more acknowledged microfinance agencies for distribution.

The public relations for the bank would be terrific; this could be a customer magnet for new accounts, far offsetting whatever the bank would be doling out.


Comments:

Tina W.
From Minneapolis, MN

Like with many things in the US I would be afraid it would be exploited. However it could work if the people "donating" the money got their money back when the borrower begins paying back the loan. This is how Prosper Marketplace, Inc works. But, I like this idea. Give everyone who wants it a reason to be proud of themselves, and feel good about giving back to their local economy. The biggest problem as I see it, is that you have to use people in order to get ahead these days. This is why I will never have enough to make ends meet. But a bunch of small local businesses who can even barter would be good. A little money is exchanged, a promise to help when needed, and the heart of our communities could be returned too.


American RadioWorks |
The campus of the University of Chicago. Kevin Carey says most students of the future won't be going to traditional college campuses. Photo: Wikipedia.

The End of College or the University of Everywhere

When education policy wonk Kevin Carey looks into the future, he sees the end of traditional colleges and universities and he says that's a good thing.

Recent Posts

  • 03.18.15

    UnRetirement

    Today older Americans are heading back to school in record numbers. Many have already started a career, but want to gain knowledge or skills that can make them more competitive in the workplace. Colleges and universities are grappling with the needs of a changing population of students.
  • 03.11.15

    The Test

    In her new book,“The Test: Why Our Schools are Obsessed with Standardized Testing–But You Don’t Have to Be,” NPR Education Blogger Anya Kamenetz examines the role testing plays in American public education.
  • 03.04.15

    An Administrator Responds to Adjunct Protests

    Last week, we talked about growing dissent among adjunct college instructors who claim they’re not getting compensated fairly for the work they do. This week we’ll hear from someone who has dealt with this issue from the administration side.
  • 02.26.15

    Adjunct voices

    Ahead of National Adjunct Walkout Day on February 25th, American RadioWorks asked adjunct professors around the country how things are going for them. The short answer? Not well.