A few years ago I lent a total of about $3k to two EAs.
The larger loan was to someone vouched for by a respected member of the community and was to help cover educational expenses. The person wasn’t able to find a job, and I didn’t get any money back. The smaller loan was not for educational expenses and went to someone not vouched for, and got I got about a third back.
Lending money to students may be a good idea. The standards of hits-based giving may be more relevant than the standards of finance, and a high default rate may be tolerable. I just want people to know that they may not get their money back.
Seconded. I’ve loaned someone else money and heard of other loans, and it seems to have worked out pretty well.
A few years ago I lent a total of about $3k to two EAs.
The larger loan was to someone vouched for by a respected member of the community and was to help cover educational expenses. The person wasn’t able to find a job, and I didn’t get any money back. The smaller loan was not for educational expenses and went to someone not vouched for, and got I got about a third back.
Lending money to students may be a good idea. The standards of hits-based giving may be more relevant than the standards of finance, and a high default rate may be tolerable. I just want people to know that they may not get their money back.