Lumni-Peru is an education financing firm that aims to increase access to higher education for a wider population of Peruvian students. Lumni-Peru identifies high potential university students and provides them with financial aid to meet most of their education needs. In return, the beneficiaries commit to paying a defined percentage of their future income (at least 10%, but no more than 15%) for a set period of time ( no more than 7 years).
Background on Skills for Work
Just over half of the world’s population is under the age of 30, with almost 90 percent living in low- and middle- income countries— particularly in Africa and the Middle East. In 2012, countries in Sub-Saharan Africa had the youngest population in the world, with more than 70 percent of their population below 30. This demographic divide can be an asset for developing economies, but such disproportions also raise challenges. For many of these emerging nations, booming youth populations are not receiving the skills they need to compete in the current labor market. The result can be seen in countries like South Africa, where the youth unemployment rate climbs past 53 percent.
To tackle this issue, many education programs around the world have developed effective strategies to equip teenagers and young adults with the training and skills necessary for work. The Center for Education Innovations (CEI) has identified more than 130 such programs.
Click below to read our Database-at-a-Glance report and find highlights from seven common approaches & characteristics across ECD models. Learn about programs focusing on:
1) General skills curricula for workforce trainings
2) Targeted skills development for certain trades
3) Emphasizing science, technology, engineering, and mathematics (STEM)
4) Providing career guidance, support, and mentoring
5) Partnering with local businesses
6) Awarding funding for business ventures
7) Reaching marginalized youth through skills development and vocational training