Category: Canada

Although we tend to think of student loans as either being something done by banks for profit or by governments to correct for market failures, there is a third type of student loan: namely, private, not-for-profit companies using a mix of private and public funds for charitable reasons. Probably the most globally significant institution pursuing this path is the Dominican Republic’s FUNDAPEC, which has its origins in a private sector effort to establish higher education in that country during a