2011  Finalist

Edumile

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USA

Edumile.org is a non-profit firm that leverages from the continuous growth in peer-to-peer investing (estimated at $5 billion by 2013) and the widespread belief that – ‘education is a fundamental right’. It is an integrated trust & support based micro-lending model effectively addressing three problem areas; lack of finances, lack of guidance and motivation, and lack of useful information. Edumile enables micro-loans through social investors to reach students pursuing higher education in India. Students graduate and repay the loans. Edumile restructures the existing model of social peer-to-peer lending with assurance, transparency and trust by making right partnerships, eliminating intermediaries and ensuring the most affordable loan terms for students and their families. A student’s education goes beyond financial support and Edumile’s passion as well as its competitive advantage lies essentially in its focus to address the gamut of problems faced by students in low income groups (~130 million families in India and more worldwide). It will ensure the enrichment of students, their families and eventually the community.