Recently started by NRI Sunny Mahant, www.jantaloans.org funds students worldwide. Donors lend to individuals who need money for supplies or tuition, or to replace lost income when they go to school instead of work. Financial partners service the loans and keep interest payments. Lenders are repaid the principal and Janta seeks contributions to cover operations.
When it comes to students, the model is slightly different, Mahant says. He says some who receive loans through Janta will need the money for upfront costs, such as tuition, that they can pay back over the year. Some will take loans for trade school. They will presumably find work that will help them pay back the loan. Ideally, some lenders will be willing to make long-term loans or even provide grants. The website features students from India as well.