Banco ADOPEM extends its EDUCA-T education loans to students in the Adult Open University

13 May 2016
Banco Adopem

The EDUCA-T educational loans program is a Banco ADOPEM product that enables disadvantaged students to obtain the funding necessary to begin or extend their studies in various degree courses. The bank has signed collaboration agreements with the main campuses in the Dominican Republic, thereby contributing to the country’s educational progress. These are 74 loans lines for an amount of DR $11,968,821.

Students at the Adult Open University (UAPA) now have access to EDUCA-T education loans. The loans have a fixed rate, so during the study period the recipients pay only the interest on the amount of the loan, and they then have an additional period of six months after graduation before they begin to pay back the capital.

Banco ADOPEM covers the costs of enrollment and maintenance (transport, books and material) and equipment related to the university course.

The bank and the UAPA will act together to enable enrolled students, or students planning to enroll, to receive this loan and guarantee their inclusion and permanence in the education system and the completion of their studies.

Mercedes Canalda de Beras- Goico, executive president of Banco ADOPEM, highlighted the bank’s contribution to creating new opportunities for development thanks to its fund of 160 million pesos specially dedicated to education loans.

According to Dr Ángel Hernández, rector of the UAPA, the agreement creates all the right conditions to develop the students’ talent through innovation and cooperation.