alt Hacker NewsThere is no profit/interest for lenders
That's what I expected. Thanks. Your wording: "made almost 68K for ~2900 loans" had me confused. Making money means profit or income to me. You didn't make any money but you helped 2900 people.
68k/25=2720. That suggests that the defaults are less than 10%. That's not so bad I think.
Ah, apologies for the bad wording :(
Your calculation is right (there were some loans that were refunded, so it is a bit higher than 2720). You could ask ChatGPT (or use Excel) for a quick calculation. $25 a month is such a small amount in the west, if anyone wants to do it (I did it inconsistently, some months $0 some months $200).
All this to show - a dollar goes a LONG way in parts of Asia, Africa etc.
Her entire 18-month master's program (tuition, registration, fees, books, supplies) comes to 3,060,000 TSh, about $1,161.
$1,161 - that is a shockingly small amount for a 18 month master's program!
Another org I admire is https://watsi.org/ Costs listed there is so small (compared to the west) that every dollar can help