FUNDACIÓN EDUCACIÓN: Scholarships for Latin America
Year of Grant: 2015
Location of Organization: Switzerland
Fieldwork: Peru, Colombia, El Salvador, Guatemala
Fundación Educación (FE) was created as a Swiss foundation in 1993 by the Swiss entrepreneur Dr. h.c. Ernst Keller and his wife Liselotte operating with a strong belief in a free market economy, entrepreneurship and social responsibility. With over twenty years of proven track record, FE is focused on providing a first-class education for young talents from low-income families at one of the leading local universities or colleges in Peru, Colombia, El Salvador and Guatemala.
Our funding will provide scholarship support for 10 gifted, underprivileged students at any partner colleges and universities within the network of FE. The aim is to turn these students into highly educated, successful and responsible entrepreneurs, managers or specialists in the fields of economy, business or technology, so that they can strengthen the middle class and contribute to economic, social and political stability in Latin America.
Adhering to a high standard, FE has adopted a 95%-Rule: 1) 95% of scholars should not only finalize their studies successfully but also find employment immediately after finalizing their studies, so that they can start contributing to FE’s ‘Compromiso de Honor’ program, and 2) 95 “Cents on the Dollar” directly benefit its scholarship holders.
The ‘Compromiso de Honor’ program is an oath undertaken by scholars in which they are morally obligated to repay their scholarship according to their possibilities once they have graduated. All monies recovered via this route are exclusively used to grant further scholarships to future young talents. Overall, USD 1.4 million have been recouped via this route since the year 2000.
Since its establishment 21 years ago, FE’s scholarship program has supported 762 scholars across Peru, Colombia, El Salvador and Guatemala to successfully complete their studies and become valuable members and role models of society.