Vittana
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Founded in 2008, Vittana was a 501(c)(3) non-profit organization with a mission to help students in the developing world access higher education through micro-student loans. Operating on a Kiva-like model, the platform allowed individual lenders from around the world to lend as little as $25 to a specific student's tuition. Vittana partnered with on-the-ground microfinance institutions (MFIs) in countries like Peru, Paraguay, Vietnam, and the Philippines to disburse and collect the loans. Despite its innovative model and impact, the organization announced its closure in June 2014, citing challenges in achieving the scale necessary for long-term financial sustainability.
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