Social Issue

In Mexico, the enrolment rate for higher education is 10% lower than in other countries with a similar per capita income. The state universities offer a very limited number of places and scholarships, rejecting 70% of the applications. Many students have to opt for the private option, but the cost of this type of education, between US$160 and US$220 per month, is not affordable for young people from lower socioeconomic classes, whose families earn between US$150 and US$1,500 a month.

Our Response

FINAE is a Mexican financial institution, created in 2006, which specialises in giving educational loans. The work focuses on providing funding for students with high academic achievements, but who do not have the resources to pursue their studies at private universities. Currently, FINAE has collaborative agreements with 15 universities throughout Mexico, where students can pursue degrees that have a good job prospect.

People with a university degree, once having completed their studies, find jobs in which they earn 74% more than those who have a level of secondary-school education. It is for this reason that the project of FINAE arose: to give the opportunity to promote young people from the lower socio-economic classes through education.

Expected Social Impact

From 2012 to 2015, FINAE has given loans for the studies of 8,100 young people. It is expected that by 2018 the total number of scholarship students will stand at 16,590. The perspective of our contribution is that more than 140 students get a university degree to have a better chance of escaping poverty.