Parinaam Foundation is pleased to inform you that the Education Loan interest-refund program was launched on 2nd June 2010 at the Chandra Layout branch in Bangalore. The interest paid on the Ujjivan Education Loan availed in 2009 was refunded to the first set of 32 customers who have met Parinaam's eligibility criteria by providing necessary documentation to prove that their children attended private schools for the scholastic year 2009-2010, mark sheets that showed they had done well enough to move to the next class and had repaid their education loan for that year. The second refund program was in Channapatna on June 22nd where we refunded the interest on the education loan to 42 women. By July end we will have touched the lives of over 700 mothers and children, through a program that has brought happiness beyond our expectations!

It was an occasion where all of us from Ujjivan and Parinaam shared the palpable joy of those customers who got their interest back and told us that no one had ever done something as wonderful for them. Many of them said that with this incentive, they would continue to keep their children in good schools and that the money would help them buy this year's books and uniforms. One mother said she had set Rs. 100 aside to give her son a special treat! Certainly, their pleasure far outweighed the value of the refund given and reiterated for us why we need to continue helping them with the education of their children.

The program will be launched at other branches after ensuring that the prospective beneficiaries meet the criteria for the interest refund. We hope to access enough donations to help all eligible customers amongst the 6400 who availed the Education Loan in 2009. We have reached just under 50% of our target donations for the program for this year.

The Scholarship Fund also had its first beneficiary, Annasuya from Whitefield Branch. She will complete her education in Bachelor of Computer Applications. Our second beneficiary is Prema from Ramanagaram who is now able to complete her PUC, which she was forced to leave last year due to family troubles and no money. We are processing applications from the other branches.

We thank every one of you who have embraced this program through your donations and encouragement. Your support has helped Parinaam to reach out to Ujjivan's customers in a very unique way and we invite you to continue to partner with us in this endeavor to eliminate poverty through education.

Beneficiaries of our Education Loan Program (as of August 2010):

 A grand total of Rs.13,19,500.00 has been disbursed to 1646 Ujjivan customers, helping 1876 of their children pursue a better education.