Help a student complete his studies – strangling debt

THE STORY

I have a friend whose son is in his last year of studies as an English teacher in a Chilean University.He is a very good student, very good grades and is well regarded by his teachers and peers.Next year (2020) he should complete an internship and after that he should receive his degree and start working as a teacher in a school.

Initially, the costs of his studies were covered by the state, because his family did not have the income to cover those costs.However, halfway through, he had to leave the program due to a long lasting illness.After a few years struggling to get over his illness he was able to continue with his studies.But the state did not want to cover the costs, with the excuse that he took too long in returning to his studies, despite being ill was not his fault, neither by intention or neglect, so his father had to take over the costs.

The problem is, my friend’s low income can’t cope with these costs, and furthermore he has other debts he’s struggling with (tax contributions among others).For the same reasons he can’t get a loan with a bank.

At the end of 2018 a family member lent him the money to renegotiate the debt accumulated in that year, so his son was able to continue studying during 2019.Throughout this year he has been paying back that family debt, mostly in kind, his professional services, but he still owes half the amount loaned, and he won’t get another family loan to cover the accumulated debt for 2019.This year he has paid 3 installments, which will leave him owing 7 installments for 2019, plus the balance of the renegotiated debt for 2018 plus interests and financial adjustment.

The total owed (2018-2019, without including the balance of the family loan) is CLP$4.000.000 (USD$5.800 – all amounts in USD are approximate as they depend on currency exchange and bank charges).

If my friend pays 40% of the total current debt (CLP$1.600.000 – about US$ 2.500) he will be able to renegotiate the debt and his son will be able to continue his studies next year, but there still will be a debt of $2.400.000 plus the monthly quotas for 2020, which will have to be paid before he can receive his degree and diploma, around the end of 2020.

If he doesn’t pay the full amount currently owed, or 40% of that amount to renegotiate the debt, before the 10^th of January, his son will not be able to continue his studies, the final Internship during 2020. At the end of 2020 he must have all debts cancelled, including the 2020 tuition fees, to receive his degree and diploma.

My friend is convinced he has no hope of collecting these amounts before the above deadlines, considering he has had very few work opportunities in the last months/years, and least considering the amounts involved.

For this reason I have decided to help my friend, starting a crowdfunding campaign, where I hope he gets the help he needs.For this campaign to be successful I see four possible milestones and targets:

1) Any amount, however small, can contribute in reducing the debt.

2) Enough to cover one monthly quota: approximately CLP$ 250.000 including interests & penalties (about USD$333).This won’t change much, but still helps.

3) An accrued amount of CLP$1.600.000 – about US$ 2.500 – enough to renegotiate the debt and go on studying in 2020.

4) An accrued amount of over CLP$6.500.000 (about USD$8.800) – enough to pay the full debt and the family loan – and the young man will be awarded his degree and diploma.

Although I have all four milestones in mind, as successful outcomes, the campaign is targeted to the highest milestone (including currency exchange, bank charges, crowdfunding site processing fees, interests and penalties), making my friend free of all educational debts.

RESPECT OF PRIVACY

As I’m trying to raise funds to solve a personal issue, not money to create a product or money for an NGO to help anonymous people, there is a privacy issue that must be respected. I am campaigning for someone else, someone whose name and other details must be kept confidential.

The world, and Chile specially, is full of prejudice, classism and racism, and my friend’s son and his family might suffer discrimination, exclusion and cruelty if their names are in the public eye. For these reasons I will not disclose personal details about the beneficiaries of this campaign. It is the same case, were I collecting donations for anonymous students highly indebted by the system.Nobody needs to know who they are, because their dignity must be respected.

I am the person responsible and accountable for this campaign, its seriousness and trustworthiness, so, it is my details and my reputation that I will put before you so you can evaluate and decide if it’s worth your while to contribute with a donation or sharing it with others.

I believe this confidentiality requirement should not be an issue, as most of those who will be donating, family, friends, and friends of friends (maybe even one or more clients and colleagues) know who I am, and probably know who I’m talking about, so trusting this is a real case and no scam, should be no issue. If anyone else wants to contribute, but has doubts, please contact me. I’ll try to deliver as much reassurance as possible, without disclosing identifying information.

I will be publishing here updates at least once a week, or before as new donations come in – both those done online and direct – or there is any news or any progress I believe you may be interested in. These updates will be in video format, accompanied by written details if needed.

Campaign Organiser: Richard Perez

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