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I think the difference here is that Sneider is in Colombia, where the article states that the average annual salary is only $8500. It does not mention what the

by Kaedon 15y ago

I think the difference here is that Sneider is in Colombia, where the article states that the average annual salary is only $8500. It does not mention what the expected salary for a nurse would be, so it is not clear how good or bad of a deal he is getting. Either way, if he graduates, he will be in much better shape still than if he were not able to go at all, which seems to be the alternative in this case. As the article mentions, this kind of aid is aimed towards people who have no other options, particularly in countries such as Colombia where federal aid and grants are more scarce.

Goladus 15y ago
> As the article mentions, this kind of aid is aimed towards people who have no other options. Right, and that's what makes me uneasy. A student needs to make about 7x the amount of the loan (plus overhead) within the 118 months for the lender to break even. That means borrowers will have to make, on average, about 73% of their original loan amount per year. If average salaries are about the same as the average loan size, it seems like it should be profitable. If average salaries grow and inflate substantially, it will be massively profitable.