• info@aurora-lb.org
  • +961 70 150250

A LOAN PROGRAM FOR HIGHER EDUCATION
In Search for Excellence

“We finance education for hungry minds”

 

Mission Statement

Contributing to the regional human development by assisting Lebanese youth to attend higher education.

Vision

Offering a better education means teaching students a better responsibility for the society they live in:

  • This implies that they invest in their own education
  • Participants are prepared for future leadership positions at all levels
  • Experience shows that the middle classes who were able to benefit from upward social mobility wish to reproduce this opportunity (for their offspring).

Project Values

The program will aim at providing economic as well as social benefits by:

  • Facilitating access for competent students to high-quality higher education and increasing educational attainment
  • Reinforcing the future of the young Lebanese generations. It will contribute to helping them achieve better careers and reach higher-income essential for the revival of the country’s economy. Investment in higher education has a significant rate of return on the local economy
  • Alleviating current public policy challenges through highly qualified students who would not have the means to access higher levels and quality of education, thus radiating on their close and distant environment

Promoting democratic values and better healthcare: High-quality higher education is a powerful mechanism of social development can produce critical thinkers and innovators, as well as a healthy, knowledgeable and engaged citizen.

Objectives

We aim to:

  • Expand choices of economically challenged students and increase their personal and work-related knowledge and skills that will help them improve their future
  • Develop a group of qualified people with better knowledge and skills who will contribute significantly to economic development, by being entrepreneurial, mastering science and technology, and improving the quality of services and will ultimately prepare to become “enlightened” leaders
  • Create a sense of responsibility and solidarity by making the student aware through his own experience that by repaying his loan, he will be offering the opportunity he had to a wider group
  • Enable our community to compete in an era of globalization and sharp knowledge
  • Give equal chances to equally gifted students regardless of their economical background
  • Give access to a better sense of well-being and to better standards of living that will spill directly and indirectly over a wider circle.

By:

  • Offering a friendly loan program for High-quality higher Education
  • Offering a loan x at zero interest
  • Offering merit and needs-based loan program.
  • Getting the student at a Master level over a 5 years university education
  • Covering 50% (20,000$) of the student’s tuition fees
  • (one-year tuition fee is 8000$; 5 years are 40,000$)
  • Stretching it over 6 years including a one-year grace period.

Through this program the student:

  • Has the responsibility to partially cover his tuition fees (the remaining 50%) therefore alleviating his parents’ burden by a half
  • Participates in the sustainability of the fund by repaying his loan, allowing more students to benefit from the program
  • Is given the chance to materialize his ambition for better education by benefiting from the funds
  • Is morally bound towards the community with the responsibility of repayment when complying with the terms of the program.

Goals

RAISING $300 000 THE FIRST YEAR AND $25,000 EACH YEAR.

If this goal is reached, the program can be expected to:

  • Benefit more than 420 skilled students over 30 years
  • Be indefinitely self-sustaining, thanks to a repayment schedule starting in the 7th year after the first payment.
  • Given that we have taken into account :
  • 3% inflation
  • 25% repayment default rate
  • 14% administration fees
  • 6% Bank Interest rate.

Participating Universities

We have chosen to validate our program with four universities:

  • Notre Dame University (Kesrwane Zouk Mosbeh)
  • Saint Joseph University (Beirut, Saida, Tripoli, Zahleh),
  • Holy Spirit University of Kaslik (Kaslik)
  • Antonine University (Baabda, Dekwaneh, Zahleh, Zgharta / Karm Saddeh)

Because all four offer affordable tuition fees while applying high standards of education. Furthermore, these universities offer a wide span of academic studies: Medicine, engineering, law and politics, fine arts, business, sciences, administration …

Conclusion

This is a feasible project for economically challenged students. When all students have repaid their loans the foundation will be left with a cash surplus giving it the opportunity to replicate this scheme to many other needs within the community.

AURORA FOUNDATION

One Step Closer . . .

 

CONTACT US

E-mail: info@aurora-lb.org
Telephone: +961 70 150 250

SUPPORT US

Beneficiary name: AURORA FOUNDATION
Account Number: 700118
Bank Name: Intercontinental Bank of Lebanon
Address: Achrafieh Branch | Beirut | Lebanon
Swift: INLELBBE