Kiva Extends Microloans to Developing Nations' College Students

With the help of Kiva.org, students across the world will be given an opportunity to go to college. (Photo: Jason Lee/Reuters)

"Loans that change lives" is the motto of the global microlending site Kiva.org.

This week, the site announced a new crop of individuals who will be lent a helping hand.

Kiva.org's next venture is loans for students worldwide who hope to graduate from college.

Anyone who has gone knows how expensive college can be. In countries like Bolivia, Paraguay and Lebanon, even $25 can make a huge difference.

Few lending options exist for middle- or lower-class individuals seeking student loans in these countries and several others.

Gloria from Paraguay and Richard from Bolivia are two students seeking loans.

Gloria is studying to be a nurse and needs help with tuition and exam fees. Richard works at a lumber company, but is seeking a higher education in accounting.

Premal Shah, president of Kiva.org told The Huffington Post that in the countries Kiva.org serves, "A one year certificate in accounting can increase a person's income 200 to 300 percent."