I remember when it was announced that the perpetual education fund sounded like a pretty good idea to me. It was only later that I learned about the restrictions on who would qualify for the help etc.

Does anybody know what the default rates are or if the program is still solvent?

Stunted.

I've been curious about this too. Sounded like a great idea when first announced, and Mormons loooooove to pat themselves on the back for this kind of stuff.
But, I haven't heard anything about it.

That way the program could continue to grow and bless more and more lives. I'm all for education and skill training etc. I still think the idea has merit as a way to solve some poverty issues.

It's odd how it seems to have just disappeared. I wonder if the repayment rate is so abysmal that they were basically giving money away so they stopped. I wouldn't be surprised if there was wide spread fraud at various local levels too.

Makes one wonder what the real story is. If it had worked there would be no shortage of faith promoting media updates on how the church was solving the worlds problems etc. I haven't seen a single one. I wonder why? HMMMM.....


Stunted.

Nothing there but fluff.

The website Angsty provided above makes the program *look* very successful.

However, since the church loves to boast about its successes, its rather extended silence on PEF suggests that the program is no exception to the church's burgeoning economic woes.

The PEF is never put at risk, because the church doesn't loan out the principal directly. They only loan the interest that the fund earns.

My daughter served a mission to Peru, and because of the restrictions on PEF, essentially no one in Peru can use it -- and they really need it. (The restriction being that PEF will only pay for tuition and tuition is essentially free in Peru, but it is the room, board, books, etc. that prevents people from going to college.)