Students struggling with student loan debt in developed countries
Students across the globe either land themselves in debt or choose not to study as tertiary education fees have become increasingly more expensive. 33% of families have opted to apply for grants or scholarships as students struggle to pay back their loans and are unable to afford university or college fees.
Reducing poverty by sponsoring students from developing countries
Applying for scholarships or loans for students in developing countries is not as convenient. Sub-Saharan Africa has the lowest regional enrollment rate in the world at only 9%. With an estimated 21% increase in earning for tertiary education graduates, sponsorships have a great effect on poverty reduction.
Charities and fundraising organizations find it the most difficult to fundraise for scholarships, as many people see it as being less important than tackling poverty or hunger.
Choosing to sponsor a student/s to further their education and jump start their career is a way to give back to communities while building brand awareness and playing a role in corporate social responsibility. By providing scholarships to students from across the globe with various ethnic backgrounds we are encouraging diversity and inclusion.
Working towards the Sustainable Development Goals and investing in your employees
Quality Education, Sustainable Development Goal 4, is a root to a sustainable future and a gateway to reducing poverty and equality. Companies can also offer scholarships to their employees to continue their education and develop new skills, adding to their production or provide the opportunity for their children to continue their education, adding to engagement in the industry.
Companies can discover new talent by offering scholarships which incorporate internship opportunities. This way students are able to continue their education while gaining experience and adding to the establishment.
Education continues to evolve and communities in need are being left behind. Encourage your workforce to contribute to members of society and make a difference.