The higher Education Loan Programme was introduced in 1997 for the children of Grameen families so that they can pursue education at the highest level. Since its inception, the programme has distributed 51,698 loans worth BDT 2945.40 million (USD 41.73 million). In 2012 alone, 1,521 students were sanctioned loans. Jessore zone has the most number of students (4,116) receiving higher education loans, with Khulna zone second (4,031). The Dudsar Sailkupa branch under Jhenaidah zone has given the highest number of Higher education loans (169).
The programme continued to flourish in 2011 also when 2,326 students were sanctioned loans.
Disbursement of Higher Education Loans Up to December, 2012.
|Bachelor degree (Honours)
|B. Sc. (Engineering)
|M. Sc. (Agriculture)
|B. Sc. (Agriculture)
|Degree in Medicine
Ananda Mohan Sarker’s dream was big; his success was even bigger
On a sultry summer day in June 2006, the meeting of the GB village group at 7/M Centre of village Maluchi in Shibalaya of the Manikganj district had finished the day’s agenda when the GB Area Manager casually asked if any of the members had any child studying in college or university.
“Sir, my son studies in the Mymensingh Medical College,” Sabita Rani, a member of the group, responded with suppressed pride superimposed on a faint smile on her face. The Manager thought she had confused some other institution as medical college. To dispel his doubt he accompanied Sabita to her house and found that her son, Ananda Mohan Sarkar was indeed studying medicine to become a doctor. Sabita Rani’s husband was a carpenter earning small amounts barely sufficient to maintain the family. She informed that they had somehow arranged money to put Ananda in the medical college but lamented that they might be constrained to discontinue his studies due to the family’s financial constraints. The Area Manager assured that Grameen Bank would stand by her to help him to continue his studies.
The Area Manager initiated the process of granting education loan to Ananda Mohan. In time, the Manikganj Zonal office sanctioned a loan of TK 1,05,000 under the GB’s Educational Loan Programme.
Ananda Mohan was a bright student and passed the SSC examination with a score of GPA 4.88 in 2003 from Taora Academy near Aricha. In 2005 he again came out with flying colours in HSC Examination with GPA-5 from Savar Cantonment College. He followed up his successes in 2006 by qualifying in the highly competitive admission test for study in the Mymensingh Medical College. After completing his MBBS final examination in 2011 and internship in 2012 he joined as a lecturer in Mannu Medical College with an emolument of TK 30,000 per month. He is also preparing to appear in the B.C.S (Bangladesh Civil Service) examination.
Ananda and his parents are full of praise and gratitude for the assistance they received from Grameen Bank. When the Area Manager visited Ananda Mohan in his house in March this year he summed up his emotion in expressing his gratitude to GB with two adverbs to underline the intensity of his gratefulness, “Sir I’m very very grateful to you and the Grameen Bank”.
Credit Programme for Self-employment of the Recipients of Higher Education Loans
Grameen Bank has introduced a special Credit Program for Self-employment of the recipients of the bank’s higher Education Loans, who have either completed or still pursuing their education. The objective is to provide the enterprising and hard working students financial support to create a band of new entrepreneurs. The philosophical basis of the program is to imbue them with the slogan “We wouldn’t beg others for jobs, we’ll create jobs for others”.
The programme is aimed at changing the age old perception of the unemployed youth about jobs being their only ‘aim of life’, and turn their attention to the virtue of self- employment. This programme, it is hoped, will contribute to reduction of poverty through use of local raw materials and appropriate technology for promotion of agro-based industries.
The Bank has set a detailed guideline for the programme. The students may avail of the facility either singly or jointly for investment in any productive sector. No ceiling has been fixed for the loan amount but the borrower’s capacity will be taken into account to determine the loan amount. The sectors for which financial support are provided include small business, nursery, cow and goat rearing, poultry, small clinics and health centers, phone shops etc.
Faruque Hossain—the profile of a successful entrepreneur
Faruque Hossain is a bright example of how a young person born in a poor family could achieve success with hard work and multi-layered assistance from Grameen Bank. He is the son of Ms Razia Begum, a member of 27/M centre under the GB’s Jaimontop Singair branch, in Manikganj Zone. Faruque’s mother did a lowly work of digging earth for building or repairing roads to eke out a living for the family. Faruque also joined his mother at a tender age to help her with the work. Despite the appalling poverty, Razia sent her son to a school. Faruque did not betray her trust and successfully completed the SSC and HSC examinations.
He obtained Tk 68,000 as education loan from GB’s Singair branch. Alongside study he operated a public call office (PCO) under the GB Palliphone (Village Phone) programme to supplement the family income. Later, he set up a Community Information centre. In 2008 he took a loan from GB under its credit programme for the young entrepreneurs to expand his business. He ,however, did not neglect his studies and obtained a Master Degree.
Faruque has so far drawn loans on three occasions, the last one being TK 3,00,000 to set up a digital photo studio where he also maintained 150 mobile phone handsets in his stock for sale to the people of the locality. He gradually bought a car for rent-a-car business, got into real estate business and started processing of visa applications and booking and confirmation of passages of the overseas Bangladesh expatriates and those proceeding abroad for work.
With Grameen Bank’s assistance and hard work Faruque has become a successful business man. He now owns land, a building, computers, a sedan car, fax machine and other assets worth over TK. 6.5 million.
Faruque Hossain is a rag to rich story. When he had no money in his childhood to buy books or to afford a square meal he had vowed to overcome the odds to turn around his wavering fortunes. Grameen Bank is happy that it could help him to realise his dreams. Faruque and his mother acknowledge with deep appreciation the GB’s assistance for throwing a life line in their hour of distress to help them to attain a fair degree of prosperity.