May 7, 2009

Sociology students attempt to lift people out of poverty

For the past two semesters students in Cowley College’s Social Science Department have been giving small loans to people in developing nations through the KIVA organization.

KIVA lets you lend money (in increments of $25) to a specific entrepreneur in a developing world. These loans are used to lift people out of poverty by providing them with a sustainable income.

The money is then repaid back into the students’ account, at which point they have the option to reloan or take out. The sociology students’ first loan was made in January to Rehema Ikoyi in Tanzania for clothing sales.

Ikoyi requested a total of $375 and the students loaned her $25. She used the money to increase her inventory. She has now repaid $8.33, which has been returned to the students’ account.

The next loan was made for $375 to the Hatun Ayllu de Aqchapa Group of Ayacucho, Peru. This group used its money for agricultural purchases (wheat, barley, sugar, rice, etc) and to pay for additional field workers. They have now repaid 17% of their loan.

The students also made a $125 loan to Martha Lorena Vasquez Marin of Chontales, Nicaragua. Her repayment schedule is set to begin in June.

The final two loans were made in April.  A total of $25 was given to John Ago of Elmina, Ghana who owns a printing business. He will use the funds to purchase new equipment.

Fares Alzwarah of Gaza, Palestine was the final loan recipient for $25.

Cowley’s sociology students have chosen the recipients of these loans and Cowley College (and the students) is recognized on each recipients’ profile page.

According to Social Science Department instructor, Cathy Hendricks, the sociology students have raised an additional $125 and will be choosing new recipients for the funds prior to semester’s end.

Any donations would be welcome. Please contact Cathy Hendricks at 620-441-5309 or 1-800-593-2222 (x5309) or donate directly to KIVA at www.kiva.org.