Beating the Odds

Beating the Odds

Contrary to popular belief, higher education loans have been available in some corners of Latin America for decades. One of the oldest creditors, Colombian state-run higher education lender ICETEX, has been helping students since 1950. Today, it has a student loans portfolio worth approximately $350 million. At the same time, ICETEX is helping put 120,000 people – 12% of Colombia's university population – through college. Having recently been labeled a financial institution, ICETEX is now authorized to securitize some of this. Latin financiers and governments are designing similar schemes to help students pay for private university. Many envision packaging loans into securities wi

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