Microfinance In Action: Students Impact Global Economies
Microfinance in Action Revisited
It’s been an exciting, tumultuous, but ultimately productive three years for the educators and students at Southwind High School in Tennesee. Those involved with the Microfinance in Action (MFiA) project have seen a lot of success despite some setbacks along the way. But the outpouring of support from the community and other educators has helped keep the flow uninterrupted.
What is Microfinance in Action (MFiA)?
When MFiA was originally proposed, it was proposed as a three-year project that would take students through the process of learning about microfinancing, and how important it can be to stimulate the economy. Especially in resource and job depressed areas in this country and abroad. They were also tasked with learning about and distributing KIVA loans to small businesses. It also proposed that students travel to low-income areas, or areas affected by natural disasters to get a real look at what poverty looks like and hopefully become passionate about ending it. In our blog we explored what an integrated curriculum exploring globalization and economics looked like and heard about the real world skills and field experiences (Microfinance in Action, August 2013). Results were inspiring.
Exploring Local Economics through Field Experiences
One of their main goals was to leave the textbook behind and create an environment of practical learning, where students would interact with their community, and communities beyond theirs to get a greater perspective on what economics and Microfinance in particular means in their day-to-day lives. So they started a journey to some of the most economically devastated states in the nation. Beginning with their own.
Making a Global Impact
They began this journey along the banks of the Mississippi in Memphis and worked their way down through the Delta to New Orleans. From there they moved to the home of the Lakota Tribes and finally to the sugar cane fields of the Dominican Republic. No one could accuse them of being lazy travelers, that’s for sure. And while I could spoil you with the details of their trip, that would ultimately take away from what was the end game goal for this project; creating a book entitled Microfinance in Action: A Guidebook for Teenagers. They just recently returned from Guatemala where they finished filming the documentary portion of their proposal, which should be edited later this summer. That documentary, along with the book they plan on publishing, will be a great resource for educators who might want to try this model at their own schools.
Other goals they had proposed were setting up a KIVA Club loan program where students could work with accredited loan companies to set up microfinance loans for those in need at home and abroad. This ended up being far more successful than they had anticipated but came with an unfortunate cost. Biba Kavass, the innovative educator behind this proposal, was diagnosed with a brain tumor. And while she continues to work on the project, she will soon have to take a step back and let others lead in her place. But the community rallied. Roughly to the tune of $150,000 and climbing. Because of this community support they’ve already made 148 loans out to people in over 50 countries. The next step is setting up a larger and more focused KIVA Club loan program, working with SME Uganda to make slightly larger loans available to people in need.
Follow MFiA Online
The project website, microfininaction.weebly.com, is also doing well, having received it’s 1000th unique visitor recently. This website is where Biba, and those who will continue in her stead, chronicle their work as well as get in contact with prospective partners.
Despite the unforeseeable setbacks they faced it would seem like MFiA has been a great success, in every avenue they proposed. The students, educators, and community all benefited from this project, which is something we value here at McCarthy Dressman. We hope to see many more innovative projects, like this one, funded in the future.