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Sinag Microfunds keeps disadvantaged Filipino college students in school through student loans
Seven UP alumni recently founded Sinag Microfunds, a nonprofit that serves as an online microfunding platform which allows people across the globe to donate $20 or more towards a student loan fund for financially struggling Filipino college students.
Along with six other UP alumni, Jamora recently founded Sinag Microfunds, a nonprofit organization dedicated to helping financially struggling students in the Philippines pay for their education through student loans.
Hoping to give Filipino students the opportunity to complete their education and have a better chance in life, Sinag Microfunds serves as an online microfunding platform which allows people from all over the world to give donations from $20 and up, to contribute to a student loan fund.
The endeavor was spurred by the story of Kristel Tejada, a 16 year-old student from the University of the Philippines who ended her own life following her inability to pay her tuition, which forced her to drop out from school.
In the Philippines, as in many developing countries, student loans are very difficult to come by, contributing to a college dropout rate of 73% (UNESCO, 2003). This leaves many students on the brink of desperation or trapped in a cycle of poverty.
According to the National Statistics Office (2013), there are about 3 million unemployed people in the Philippines. Of that number, 46.4% are those without college degrees, compared to only 21.7% who are college graduates. This illustrates the undeniable value of educational attainment when it comes to landing a job and, ultimately, moving away from a life of poverty.
“Sinag means ‘ray of light’ in the Philippine language. We aspire to be a building block to a brighter, more luminous future; one where it is easier for young people to achieve their dreams and eventually spread their light to their family, their community, and their country,” explained Jamora, who now serves as the Executive Director of Sinag Microfunds.
Aside from Jamora, Sinag Microfunds’ other directors are Rica Cruz for Finance and Development, Margaret Yarcia for Marketing, Mary Anne Tuazon for Program Operations, Carla Baful for Media Production, Juan Carlos Soriano for Art and Design, and Meiling Lee for Special Projects.
Those interested to donate to poor college students in the Philippines can now visit the online funding platform for PayPal and credit card donations at http://www.sinag.org, or make a deposit to:
Bank name: Bank of the Philippine Islands (BPI)
Account name: Sinag Microfunds, Inc.
Account number: 2280-1030-58
Branch location: Ayala Technohub, Quezon City, Philippines
Swift Code: BOPIPHMM
Interested parties may also email them at email@example.com, or follow them on http://www.twitter.com/