Higher Education Student Financial Aid: Compare and Contrast State Managed Higher Education Student Financial Aid in Canada and the America with the Ngo-Managed Grameen Bank Higher Education Financial Aid Services in Bangladesh

By Kazi Abdur Rouf

The research finds the majority of the higher education student financial aid programs are managed by the states or private agencies or foundations in the world. Their financial aid policies are continuously changing and improving to adopt contemporary situations and changing time. Likewise, the GB higher education student loan policy improvement can be done by continously reviewing the system, which is necessary for GB to strengthen its higher education student loan program in Bangladesh.

• Language: English
• Publisher: iUniverse
• Release date: Mar 25, 2020
• ISBN: 9781532093746

Kazi Abdur Rouf

Professor Dr. Kazi Abdur Rouf is researching green and social entrepreneurship development, microfinance, higher education student financial aid, and organizing community schools attached to the York Center for Asian Research (YCAR) York University and the Center for Learning Social Economy and Workplace (CLSEW), University of Toronto. He is an international research fellow (visiting) at the School of Education at Indiana University Bloomington USA. Rouf is a faculty of the Noble International University, USA, and visiting faculty of Chittagong University, Bangladesh. Moreover, he is a fellow of the International Rice Research Institute (IRRI), Philippines, and a research fellow of the Social Economy Center, Toronto. He has written many articles on microfinance, women empowerment, rural development, peasants’ economic development, poverty eradication, green business development, social entrepreneurship development, and perception of population problems by rural people. His published books are the first Grameen Bank Borrowers Empowerment in Bangladesh published in Germany in 2013. The second book Green and Social Entrepreneurial Basics and the third book Green and Social Enterprise Implementation Strategies in Bangladesh, published in Bangladesh in 2016. The fourth book Grameen Bank Multiple Services and the fifth book Social Thoughts and their Implications publish by the IUniverse Publishing House USA in 2018. He has worked in several international agencies in their environmental community programs, micro-credit programs, small and medium enterprise (SME) development projects, and women’s development in different countries. Some of these organizations include Grameen Bank Bangladesh, International Center for Diarrheal Diseases Bangladesh (ICDDRB), UNDP Namibia, UNDP Lesotho, Red Cross Canada, Africa Development Foundation, UNCHR Afghanistan, Pakistan, India, IRRI Philippines, and Good Faith Funds, Pine Bluffs, USA. Rouf completed his Ph.D. from the University of Toronto, in 2011, Masters in Environmental Studies, (2008), Post-graduate degree in Business and Environment, BA (2006) with distinction in Women Studies and International Development Studies, York University, and Diploma in Social Works (2003), Centennial College, Canada. He received his BA Honors and MA in Sociology from Chittagong University, Bangladesh in 1981.

Book preview

HIGHER EDUCATION

STUDENT FINANCIAL AID

Compare and contrast state managed

higher education student financial

aid in Canada and the America

with the NGO-managed Grameen

Bank higher education financial

aid services in Bangladesh

KAZI ABDUR ROUF

9171.png

HIGHER EDUCATION STUDENT FINANCIAL AID

COMPARE AND CONTRAST STATE MANAGED HIGHER EDUCATION STUDENT FINANCIAL AID IN CANADA AND THE AMERICA WITH THE NGO-MANAGED GRAMEEN BANK HIGHER EDUCATION FINANCIAL AID SERVICES IN BANGLADESH

Copyright © 2020 Kazi Abdur Rouf.

All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the author except in the case of brief quotations embodied in critical articles and reviews.

iUniverse

1663 Liberty Drive

Bloomington, IN 47403

www.iuniverse.com

1-800-Authors (1-800-288-4677)

Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

Any people depicted in stock imagery provided by Getty Images are models, and such images are being used for illustrative purposes only.

Certain stock imagery © Getty Images.

Scripture quotations from the Holy Bible, King James Version (Authorized Version). First published in 1611. Quoted from the KJV Classic Reference Bible.

ISBN: 978-1-5320-9373-9 (sc)

ISBN: 978-1-5320-9374-6 (e)

iUniverse rev. date: 03/25/2020

CONTENTS

List of Tables

List figures, charts and diagram

About Author

Preface

Chapter 1 Introduction

Chapter 2 Comparative Higher Education Research Methods

Chapter 3 Educational policy and policy appropriation

Chapter 4 Canadian student financial aid program

Chapter 5 American student financial aid program

Chapter 6 Grameen Bank higher education student financial aid program

Chapter 7 Grameen Bank higher education financing survey findings

Chapter 8 Social economy community outreach education

Chapter 9 Compare and contrast financial aid programs in North America and Bangladesh

LIST OF TABLES

Table 4.1 OSAP loans and grants for 2014-2015

Table 4.2. Level of education needed for work in Canada

Table 4.3. Distribution of student loan borrowers by universities, colleges and private institutions in Canada (2015-016)

Table 4.4: Distribution of grants provided in 2015 to 2016, by type of grant in Canada

Table 4.5. Distribution of full-time Canada Student Grants by province in 2015-16

Table 4. 6. Comparison of University Funding in Ontario and Quebec

Table 4.7. Ontario Student Opportunity Grant (OSOG) amounts and conditions

Table 4.8. OSAP allowable educational costs & allowances and expected Financial Contribution

Table 4.9. Numbers of RAP recipients by RAP stages and by provinces

Table 4.10. Income thresholds for Canada student grant eligibility for full-time students

Table 4.11. Annual gross income thresholds for zero payment under the RAP by family size

Table 4.12. Canada Student Loans for part-time study

Table 4.13. Consolidated Canada Student Loan Programs – Combined Programs

Table 4.14. Full-time Canada Student Loan disbursement by province and territory

Table 4.15. Ontario Universities OSAP Repayment Assistance Participation Rates in 2015

Table 4.16. U f T Student Enrolment statistics (Fall 2017 – 18)

Table 4.17. Enrolment by campus and faculty/college, 2018

Table 4.18. University of Toronto enrollment by age and gender comparison between 2008 and 2018

Table 4.19. Number of international students by top ten countries in Fall 2018

Table 4.20. University of Toronto undergraduate international student enrollment five years trend (2014-2018).

Table 4.21. Year-wise comparison of numbers and percentages of domestic students with international students at University of Toronto (from 2009 to 2018).

Table 4.22. Year-wise percentage of number of OSAP recipients and OSAP debts among University of Toronto students from 2012-17

Table 4.23. Percentages of OSAP distribution to University of Toronto students by income

Table 4.24. Canada Student Loan three-year default rates

Table 4.25. Year-wise U f T students OSAP loan default rates of percentage from 2011-17

Table 4.26. University of Toronto student assistance (need- based and merit-based) graduate and undergraduate in 2016-17.

Table 4.27. U f T Entrance Scholarships (2019-20)

Table 4.28. First Entry Undergraduate OSAP and UTAPS scholarships, grants and loans (2018-2019)

Table 4.29. Effects of OSAP cuts and tuition changes to OSAP eligible students

Table 5.1. Postsecondary fall enrollment by attendance status and level of enrollment (with percentage of all students enrolled in each sector), (2000 to 2016, selected years)

Table 5.2. Distribution of undergraduate student grants and loans in all US institutes in 2016-2017

Table 5.3. Distribution Federal Grants and Federal Loans in 2016-2017

Table 5.4. Percentage of loans, grants and work study by gender (2016-2017)

Table 5.5. Distribution of loans, grants and work study by ethnicity (2016-2017)

Table 5.6. Distribution of grants, loans and work study grants by marital status

Table 5.7. Distribution of grants, loans and work study grants by full-time, part-time attendance status

Table 5.8. Distribution grants, loans and work study by dependency and family income status of undergraduate students

Table 5.9. Distribution of aid, loans and work- study assistance by housing living status of students excludes students attending more than one institution

Table 5.10. Distribution of loan repayment cohort by years

Table 11. Distribution of loan repayments by the public, non-profit and for-profit schools student loan borrowers

Table 5.12. Public 4-Year Institutions and Private Non-Profit 4-Year Institutions in Indiana State

Table 5.13. In Indiana USA, comparison of undergraduate student loan debt, grants and enrollment at the Ball State University, Indiana State University and Indiana University Bloomington with all Indiana Universities in 2016-17

Table: 5.14. Percentage of Pell Grants received by 13 public Indiana universities in 2016-17

Table 5.15. IU cost of attendance for full-time undergraduates, 2018-2019 academic year

Table 5.16. Students total enrollment in US by year

Table 5.17. Average enrollment cost by family annual income

Table 5.18. Comparison of FY 2015 official national cohort default rates to prior two official cohort default rates calculated August 18, 2018

Table 5.19. Stafford/Direct Loan 3-year Cohort Default rates in Indiana public 7 universities

Table 5.20. Distribution of percentages by different types student financial grants and loans

Table 5.21. Percentage of undergraduate students receiving federal grants and loans (U.S.A)

Table5. 22. Change in average sticker and annual net tuition prices at four-year public and private, not –for-profit colleges and universities in constant (2011) dollars, 1996 to 2011.

Table 5.23 Subsidized Federal Stafford Loan Program borrowing limits, 1987 to 2012

Table 5.24. Distribution of student loan borrowers’ repayment status by types of colleges

Table 5.25. Summary of Federal Aid disbursed to student, by program (Dollars in Millions)

Table 5.26. Comparison of cohort default rate by definition and institutional type, 2000 fiscal year

Table 5.27. Comparison of state aid awarded based on need or merit criteria

Table 5.28: Increasing enrollments and declining state support 2016-2017

Table 5.29. Decreasing enrollments and declining state support 2016-2017

Table 5.30. Decreasing enrollments, declining state support, and cost reductions

Table 5.31. New International Undergraduate Registration Growth in fall 2012, 2013, and 2014

Table 5.32. Percent Pell Recipients among Full-Time, First-Time in College (FTFTIC) and all Undergraduates

Table 6.1. A Disbursement of the Grameen Bank higher education student loans up to December, 2005.

Table 6.1 B Grameen Bank Higher Education student loan (March 2010)

Table 6.2. Distribution of Grameen Bank higher education student loan in Dhaka Zone in 2005

Table 6.3. Distribution of Grameen Bank scholarships during 1999-2005

Table 7.1.A. Year-wise disbursement of Grameen Bank Higher Education Loans

Table 7.1.B. Disbursement of Grameen Bank Higher Education Loans up to September, 2019

Table 7.1.C. Student loan receiving students’ studying degrees

Table 7.2. GB student loan repayment status by the loan receivers of GB (parents’ responses)

Table 7.3. Student Loan repayment contribution by the children (student loan receivers) children

Table 7.4. Reasons for not repaying student loan by the loan used Children (parents’ response)

Table 7.5. Comments on the student loan of GB by the loan receiving borrowers of GB

Table 7.6. Suggestions on GB student loans (Multiple Choices)

Table 7.7. Impact of child’s higher education on borrowers’ life/family

Table 7.8. Future plan of the student loan receivers

Table 7.9. Start business within 10 km

Table 7.10. How often student interactions with neighbors

Table 7.11. Purpose of interactions with the neighbors (multiple choice answers)

Table 7.12. Actions against dowry

Table 7.13. Reasons dislike/protest against child marriage

Table 7.14. Second-generation borrowers of GB involved agency names

Table 7.15. Discuss/involve in solving community issues (multiple choices)

Table 7.16. Advising, following and engaging in sixteen decisions campaign socio-environmental services/activities in the community (multiple choice answers)

Table 7.17. Reasons for Children not contributing to Loan Payments (children’s response)

Table 7.18. Involve in outside home activities/programs in the neighbourhoods (multiple choice responses)

Table 7.19. GB center meetings facilitate cohesion among borrowers

Table 7.20. Cohesion improving ways (multiple responses)

Table 8.1. Stakeholders’ expectations of governance of SEs

Table 9.1. Full-time Canada Student Loan disbursements for each province and territory

Table 9.2. Comparison of state aid awards based on need or merit criteria

Table 9.3. Loan fees for direct subsidized loan and direct unsubsidized loans

Table 9.4. Distribution of student higher education grants and loans at the Indiana state universities

Table-9.5. Percentage of Pell Grants received by 13 public Indiana universities in 2016-17.

Table 9.6. Canada Student Loan three-year default rates

Table 9.7. America student loan Cohort Default Rates of three years (2013-2015).

LIST FIGURES, CHARTS AND DIAGRAM

Figure 5.1. Forgiveness, Cancelation, or Discharge of Federal Direct loans, FFEL loans and Perkins Loans

Figure 5.2. Direct Subsidized Loans and Direct Unsubsidized Loans interest rates

Figure 5.3. Student or cosigners role for receiving the Smart Option Student Loan and Sallie Mae Parent LoanSM by college students

Figure 5.4. Terms and conditions for the Sallie Mae Graduate student loan and Direct Grad PLUS Loan

Figure 5.5. Graduate School Loan citizenship eligibility

Chart 5.6. Difference between variable interest rate and fixed interest rate of the college student loans

Diagram 7.1. Number of children of the respondents, borrowers of GB

Diagram 7.2. Student loan disbursed by year

Figure 8.1. The mission pyramid

Figure 8.2. Social enterprise links to the economics of the business.

Dedicate to my wife

Sabina (Kanka)

My inspiration and hope who

has made my life vibrant.

ABOUT AUTHOR

Author%20Photo.jpg

Professor Dr. Kazi Abdur Rouf is researching green and social entrepreneurship development, microfinance, higher education student financial aid, and organizing community schools and brings in expertise in managing business and development organisations, designing social and inclusive business enterprises, and developing strategies for NGOs and developing poverty alleviation, and development outcomes attached to the York Center for Asian Research (YCAR) York University and the Center for Learning Social Economy and Workplace (CLSEW), University of Toronto and the School of Education Indina University Bloomington USA. He is an international research fellow (visiting) at the School of Education at Indiana University Bloomington USA. Rouf is a professor of the Noble International University, USA, and a visiting faculty of Chittagong University, Bangladesh. Moreover, he is a fellow of the International Rice Research Institute (IRRI), Philippines, and a research fellow of the Social Economy Center, Toronto.

He has written many articles on microfinance, women empowerment, rural development, peasants’ economic development, poverty eradication, green business development, social entrepreneurship development, and perception of population problems by rural people. His published books are the first Grameen Bank Borrowers Empowerment in Bangladesh published in Germany in 2013. The second book Green and Social Entrepreneurial Basics and the third book Green and Social Enterprise Implementation Strategies in Bangladesh, published in Bangladesh in 2016. The fourth book Grameen Bank Multiple Services and the fifth book Social Thoughts and their Implications publish by the IUniverse Publishing House USA in 2018.

He has worked in several international agencies in their environmental community programs, micro-credit programs, small and medium enterprise (SME) development projects, and women’s development in different countries. Some of these organizations include Grameen Bank Bangladesh, International Center for Diarrheal Diseases Bangladesh (ICDDRB), UNDP Namibia, UNDP Lesotho, Red Cross Canada, Africa Development Foundation, UNCHR Afghanistan, Pakistan, India, IRRI Philippines, and Good Faith Funds, Pine Bluffs, USA.

Rouf completed his Ph.D. from the University of Toronto in 2011, Masters in Environmental Studies, (2008), Post-graduate degree in Business and Environment from Schulich Business School, BA (2006) with distinction in Women Studies and International Development Studies, York University, and Diploma in Social Works (2003), Centennial College, Canada. He received his BA Honors and MA in Sociology from Chittagong University Bangladesh in 1979 and 1981 respectively.

PREFACE

In 1981, the author of the book intensively observed the activities of the Grameen Bank (GB) weekly center meetings, its seven days training meetings, and open house meetings in the villages when he is working in the Grameen Bank Narandia Kalihati Tangail Bangladesh. He writes his field visit report and submits it to Muhammed Yunus in 1982. He mentions in his field report that GB center meetings are a platform for the landless men and women where they can discuss their socio-economic issues; cultural, environmental, familial and community heath problems together in the centers. They can solve their problems collectively in addition to microcredit transactions in the weekly center meetings. The author also mentions the field workers of the GB can discuss the benefits of education of the children of the borrowers of GB, pure drinking water, use sanitary latrine, and maintain group solidarity, etc. Bank worker can also provide basic training to the borrowers of GB on nutrition, primary health care, mother and child health care (MCH), Planned Parenthood family, homestead vegetable productions, and seeds productions, and preservation, grow fruits nursery and plantation, etc. in the weekly center meetings. Moreover, they can advise them on how to keep the environment clean and protest against dowry and teenage marriage, gender inequality and discrimination, and social injustice, etc. in society.

The researcher believes in the integrated social and economic development of the disadvantaged people in Bangladesh. Before joining in Grameen Bank, he works in many social service organizations like International Center for Diarrheal Disease Bangladesh (ICDDRB), Bangladesh Family Planning and Population Control, Bangladesh Rural Development Board, Mormonite Central Committee (vegetable productions unit), Adult Education Center, Voluntary Health Social Services (VHSS), and Danida Bangladesh, etc. These agencies have outreach education programs where they apply popular education methods by using attractive posters, videos, flashcards, flip charts, story telling, etc. in their adult learning programs. The researcher has a good connection with these organization even after leaving these organizations.

The author collects posters, flip charts, videos, booklets, flashcards, and community outreach education materials and distributes these popular education materials to the GB branches. And request the GB field employees display these adult learning materials in their offices, bring these learning materials in the center meetings and communicate the messages of the materials to the borrowers of GB. The author also invites GB officials to discuss the above mentioned socioeconomic life skills messages with the borrowers of GB. The author works as a Chief of the Social Development Program of GB Bangladesh in 1982-1985.

The writer of the book also finds women borrowers come to the GB weekly center meeting with their children to repay their loan installments in the weekly center meetings every week in the morning. Even many children (below age 14) also stand around the meeting places and see the scenarios of the meetings. The author asks these children and their parents why they do not go to school. He motivates the borrowers and the children to attend schools and complete higher education in Bangladesh. Many borrowers respond their previous generations are illiterate for long. They are illiterates too, so their children have the same trend. Many borrowers of GB tell the writer money requires for educating their children. They have vulnerable livelihood. Therefore, they cannot effort to teach their children and to go to schools and colleges for higher education.

The author talks about these ideas with Muhammed Yunus and requests him to develop social development programs in GB in addition to the GB microcredit program in Bangladesh. The author particularly seeks to Yunus to initiate the child education program in GB and provide higher education financial support to the prospective students in Bangladesh. Muhammed Yunus keeps those ideas in his mind, and gradually, he starts social development different programs in Bangladesh through GB sister organizations later. For example, he initiates Grameen Shikka, a sister organization of GB in Bangladesh that has been working for the child education and vocational training for the youths in Bangladesh since 1999.

Muhammed Yunus gives the author an assignment to draft the manual of the Grameen Bank Higher Education Student Loan Program in 1996 when Kazi returns to Bangladesh from the Afghanistan microcredit replication project. Kazi writes the manual of the GB higher education student loan program from scratch. The drafted manual finalizes by Muhammed Yunus. GB has been providing the GB Higher Education Student Loan to the children of the borrowers of GB since 1998. As mention above the Grameen Shikka (education) establishes in 1999, which is soley working for children education, offering vocational training, and providing scholarships and bursary to the children of the borrowers of GB in Bangladesh.

The author finds many children of the borrowers of GB are receiving GB higher education student loans from GB during his Ph.D. data collection in Bangladesh in 2010 and he observes the GB student loan program is very useful to the children of the borrowers of GB. He studies the manual of the student loan program of GB and observes the manual of the program remains unchanged. However, he feels the policy, procedure, and product of the GB higher education student loan needs to modify and improve to adapt the changing envirinment. Moreover, he finds the Grameen Bank Higher Education Student Loan Program has not massively expended in Bangladesh, although it has more demand to the children of the borrowers of GB in Bangladesh.

The Grameen Bank Higher Education Student Loan Program is the only program in the world that is managed by a non-governmental microfinance institution (MFI) in Bangladesh. Usually, higher education student loan programs are run by the government and the private financial agencies in the world. However, unfortunately, there is no higher education student loan program runs by the Government of Bangladesh or by a private agency in Bangladesh, although many students can benefit from the higher education student loan services in Bangladesh.

The research finds in his exploration the majority of the higher education student financial aid programs are managed by the states or private agencies or foundations in the world. Their financial aid policies are continuously changing and improving to adopt contemporary situations and changing environments. Likewise, the GB higher education student loan policy improvement can be done by continously reviewing the existing GB financial aid system, which is necessary for GB to strengthen its higher education student loan program in Bangladesh.

After immigrating to Canada in 2002, the researcher is continuing his higher education studies in Canada by receiving the Ontario Student Assistance Program (OSAP), which is a state-managed student loan program in Canada. He finds the Canadian higher education student loan policies are continuously changing over time to provide more useful benefits to the Canadian higher education students. Many friends of the researcher also complete their higher education in America by receiving the American state-managed financial aid. Many of them also receive student loans from private financing agencies in America. The researcher learns many things from the Canadian and the American higher education financial aid programs.

Comparative education refers to inspect two or more educational entities or events in order to discover how and why they are alike and different. Therefore, the researcher thinks it is necessary to research the Canadian, the American, and the Grameen Bank higher education student financial aid programs to know how they manage their higher education student financial aid programs in Canada, the America, and Grameen Bank Bangladesh. The study can assist in understanding how the student financial aid receivers get useful benefits from the state-managed and NGO-managed higher education financial aid programs in these three countries.

Therefore, the researcher voluntarily takes initiative to study the higher education student financial aid policies, programs and products of these three countries (Canada, the America and Bangladesh). With this in mind, the researcher compares and contrasts these three countries’ higher education student financial aid programs to find similarities and differences of their higher education student financial aid policies, products, and services between them.

The book analytically discusses with statistics the NGO-managed Grameen Bank higher education student financial aid program Bangladesh, and the State-managed the American and Canadian higher education student financial aid policies, etc. Moreover, the book examines the need-based, means-test and merit-based higher education student financial aid policies, and their usefulness to the educational policy and policy appropriation process, etc. The book discerns the higher educational research policy different theories, comparative educational different approaches, and their usefulness to the higher education comparative study.

This research aims to assist Grameen Bank in improving its student loan policies, procedures, products, and service in Bangladesh. Canada, the America, and other countries could think, initiate, and develop the NGO-managed student loan programs in their countries. Moreover, the study could assist the second-generation borrowers of GB in getting better support services from Grameen Bank. The student financial aid agencies in North America, Asia, Africa, and Latin America could learn about the American, the Canadian, and the GB student loan policies, strategies, products and loan financing various models. In addition to these, this post-doc higher education student financial aid research would broaden and improve the future student programs of financial assistance development elsewhere in the world.

This policy empirical research generates a new knowledge in the field of state-managed and the NGO-managed student loan management policies, procedures and development in Bangladesh, Canada and the USA. The paper can help the Government of Bangladesh and Bangladeshi other microfinance institutions and non-governmental organizations (NGOs) in the world to get ideas about the policies, strategies, and the financial models of the American, the Canadian and the Grameen Bank Higher Education Student Loan Program in Bangladesh. The study aims to share the findings of the research with the Grameen Bank executives, academicians, and researchers in the world. As well as share the research findings to the readers of the books and university students. Moreover, the research aims to inform to the readers about these higher education student financial aid programs, policies, procedures, strategies, products of these three countries higher education student financial aid services for their college students.

The researcher attaches to the Leadership and Policy Study, School of Education Indiana University Bloomington USA in 2019 to know the American higher education student financial aid policies, procedures and to get its data. He audits several courses there like educational policy, student enrollment management, education thoughts, educational policy reforms, comparative research methods, and education economics, etc. while he is at Indiana University. He receives necessary information related to his research from Professor Margaret Sutton, Professor Bordon Victor, Professor Bradely Levenson, Professor Christpopher Lubezki, Professor Gary Pike and Stacy Goddard who advise him to get theories of policies, and to get to the American higher education financial aid data. The Office of the Financial Assistance Indiana University also provides financial aid information. The University of Toronto Roberts Library provides the Canada higher education student financial aid statistics particularly Ontario Student Assistance Program, etc. web data and uses LIRA computer to the researcher. Moreover, the researcher interviews twenty undergraduate and graduate students across the America who receives the American higher education student financial aid. The researcher reads many books, articles, browses web pages and e-statistical reports to understand the American and the Canadian higher education financial aid policies, procedures, products, and student loan repayment rates, etc.

The researcher and his wife Sabina thankful to Nasra Hassan and his children, Somalian Canadian neighbors, for their generous support to my wife during my stay in Indiana Bloomington USA in 2019. The book is thankful to Sabina for her encouragement to publish the book. Mr. Alimoore Reza energises the author for writing the manuscript.

The researcher visits to GB Bangladesh to know the GB student financial aid policies, procedures, strategies, and products, and to collect data from the student loan borrowers of GB. However, the researcher unable to collect consolidated secondary data of the GB student loan repayment rate or bad debt rates of GB in Bangladesh.

This empirical policy research generates new knowledge in the field of NGO-managed student financial aid management in Bangladesh, Canada, and the USA. The research outcomes shall help the Government of Bangladesh, Bangladeshi NGOs, and microfinance institutions (MFIs) to get ideas about the policies, strategies, and financial models of the American and the Canadian student financial aid programs.

This book has nine chapters. The First Chapter is the introduction of the higher education student financial aid programs in Bangladesh, Canada, and America. Here the Chapter 1 mentions the purpose of this empirical policy research is to explore the policies, strategies, and to find out the Grameen Bank student loan policies. Chapter 2 contains the theories of higher education student financial aid policies, policy appropriations, policy debates, etc. Chapter 3 is about the policies, procedures, and the guidelines (manual) of the GB higher education student financial aid awards and loan services in Bangladesh. Chapter 4 contains the survey findings of the Grameen Bank higher education student loan and its impact on the borrowers of GB in Bangladesh. Chapter 5 narrates the Canadian student financial award and loan disbursing policies, monitoring methods, student awards, and loan disbursing and repayment statistics. Chapter 6 contains the American student financial aid awarding and loan disbursing and loan collecting policies, procedures, and policy appropriation mechanism. It also has student loans data information and their analysis. Chapter 7 is about community outreach education and the Chapter 8 compares and contrasts the GB higher education financial aid program with the Canadian and the American financial aid system in Bangladesh. The last Chapter 9 is the discussions of the three countries higher education student financial aid programs in Canada, the America and Bangladesh.Every chapter has an abstract at the beginning of the chapter.

The researcher has done this research with his limited resources. Therefore, the book has many limitations that the readers might notice. However, he hopes the book could be useful to the readers.

Researcher and Professor Dr. Kazi Abdur Rouf

February 21, 2020

CHAPTER 1

Introduction

Abstract

R esearcher Kazi A. Rouf has been researching the Grameen Bank (GB) Higher Education Student Loan service and its impact on the second generation of GB borrowers in Bangladesh since 2014. He finds, usually, higher education student loans are administered by public agencies of developed countries. Even many developing countries are also providing higher education student loan to college students. However, Grameen Bank (GB) Higher Education Student Loan service is a non-government-managed higher education student loan service in Bangladesh that has been running since 1997, which is a unique program in the world. However, there is no study on this GB student loan services in Bangladesh. Hence, the researcher conducts this higher education student financial aid policy research attached with the School of Education, Indiana University Bloomington, USA to dissimilate the research findings with Grameen Bank executives, conferences, university faculty and students, and the readers of the book.

The purpose of this empirical policy research is to explore the policies, strategies, and to find out the Grameen Bank student loan products and services in Bangladesh. Moreover, the study focuses on identifying challenges that are facing the second generation of GB borrowers in studying their higher education and running their micro-social enterprises in their post-education in Bangladesh. The study examines whether the second generation of GB borrowers participates in the social and green enterprises in a more egalitarian way than their parents in their families and communities. Furthermore, the study explores whether they advocate for the Sixteen Decisions of GB, lobbying for social issues on rural renewable energy, and rural unemployment, etc. in Bangladesh.

The research findings would help GB to improve its student loan services to its student loan borrowers of GB in Bangladesh. This research generates new knowledge of NGO-managed student loan financing and its impact on poverty eradication and employment creation in Bangladesh. This study would be learning lessons to other MFI managed financing community organizations in the world elsewhere. The School of Education, Indiana University Bloomington has unique faculties and research library facilities that assist the researcher to find his relevant research literates there. Therefore, he conducts this research in the School of Education, Indiana University Bloomington attached with Professor Dr. Margaret Sutton. The researcher attaches with School of Education, Indiana University Bloomington USA as a Visiting International Research Scholar for conducting the research for the period January-December 2019. However, this research is a voluntary intiative of the researcher.

Key words: Canadian higher education student loan program, Canadian higher education student loan program, Comparative international education (CIE), Grameen Bank weekly center meeting, GB Higher Education Student Loan program, Grameen Shikka, group solidarity, group-based microcredit, MFIs, non-governmental organizations (NGOs), protest against dowry, protest against child marriage, sixteen decisions, School of Education Indiana University Bloomington.

Introduction

Grameen Bank (GB) has been implementing group-based microcredit services in Bangladesh since 1976; however, GB introduces the higher education student loans for the students of the second generation of GB borrowers in Bangladesh in 1997. During researcher’s (Kazi Rouf) PhD data collection in Grameen Bank (GB) in 2010, he finds many children of the botrrowers of GB, who are studying higher education in medicine, engineering, law, and other subjects in the universities of Bangladesh have received student loans (larger loans than $2500) from Grameen Bank. The researcher observes many student loan receivers after completing their education they are involving in micro enterprise businesses in Bangladesh. Grameen Bank also introduces micro-enterprise loans for them for attracting them engage in social and green businesses in Bangladesh. Many children of GB borrowers’ study higher education by receiving GB student loans. After completing the higher education, many second-generation children start businesses and take over their parent’s businesses. This is an anti-colonial localization process that empowers marginalized poor people in Bangladesh. Even it is a sustainable development model and process in Bangladesh to educate the marginalized students and to empower them in their community. The researcher observes that these second-generation micro entrepreneurs of GB after their higher education they are involved in businesses like web page designing, multimedia studio, poultry and livestock farming, poultry feed manufacturing and selling, equipment leasing, garments manufacturing and marketing, manufacturing leather products and ceramic products.

The Grameen Bank higher education student loan program creates an opportunity to the second- generation of the GB borrowers to pursue their higher education and become competitive in the job market even successful entrepreneurs by doing business in Bangladesh. However, there is no study on this Grameen Bank higher education student loan program. Hence, the researcher attempts to explore policies, strategies and financial model of this GB student loan program as well as to identify problems and challenges that are facing by both student loan receivers and GB in implementing this program in Bangladesh. The study also focuses to find out the status of the repayment of the student loan of GB and the student loan receivers employment status/ business engagement status in their post-education periods in Bangladesh. Moreover, the study intends to discern whether these student loan receivers need further alternative support services to complete their higher education and to identify what support services they need in their post-education period in Bangladesh.

The first state-managed higher education student financial aid program initiates in France. The system is created by the state and completely financed by it. The national ministry of education regulates the access conditions, curriculum, degree requirements, examinations and appointment and remuneration of academic staff. In this state control model, the power of the state is combined with strong authority at the level of senior professors. In contrast, the state supervising higher education student financial aid model is found in the United States, the United Kingdom, Canada, and many former British colonies. In this model, some senior professors have strong powers, while the institutional administrators have modest powers to allocate grants to the higher education meritorious students. The state also accepts a modest role in providing the higher education student financial aid to the college students.

Each college recruits its own students, hires its own staff and determines its own curriculum. The UK higher education student financial aid model has a University Grants Committee, which is liaising between the colleges and the government, seeking to respect institutional autonomy. However, on the other hand, the University Grants Committee secures accountability in the use of public resources. In UK the University Grants Committee was replaced in 1988 by a University Funding Council through which the government takes more direct control his was form of functional centralization. It permitted the government to require institutions to conform to demands to measure their research output and the quality of their teaching (Brady, 2007). In developing countries like Philippines has a large number of universities are regulated by the state.

Comparative international education (CIE) has been lobbying for the national educational development from an emphasis on economic growth to a concern for redistribution of assets and opportunity, with implications of inequalities, including poverty. Freire’s (1970) view of development embraced materials and spiritual dimensions that he defined education as the practice of freedom. Amarttaya Sen (1999) defines of development by including the notion of capabilities approach, what individuals are able to do in areas that are essential to improving the quality of their lives. Economic analysis of the contribution of education is essential of human capital (Schultz, 1961, 12970). Human resources are an essential ingredient to modernization. The Philippines college students are receiving higher education student financial aid from the government. Collins (1979) found that mass education resulted from competition among status groups for social dominance. These values create modern politics that reflect collective religious, political and economic preferences.

Objectives of the Study

1. To know the policies and strategies of non-formal adult learning of Grameen Bank; policies and strategies of GB micro enterprise loans and student loans and the incentive are providing to the second-generation clients of GB by these loan products;

2. To explore similarities and differences of policies between the GB higher education student loan program, and the Canadian and American higher education student financial aid programs in Canada and the America;

3. To discern second generation clients of GB motivation to involve in micro-enterprises;

4. To examine second generation borrower’s business performance status compared to first generation borrowers of GB and to know their motive to encourage and coach neighboring poor children for schooling;

5. To discover challenges borrowers are facing in studying their education and running their businesses.

Research Questions: What are the policies and strategies of the Grameen Bank higher education student loan program in Bangladesh? What are incentives GB is providing to the second- generation of the borrowers GB? How second-generation clients of GB motivated to pursue higher education and to involve in micro-enterprises. What is their business performances compared to the first-generation borrowers of GB? Do the GB graduated borrowers and the children of GB borrowers encourage and coach neighboring poor children for schooling and studying? What are challenges they are facing to run their businesses in Bangladesh. What are the similarities and differences of policies between the GB higher education student loan program, and the Canadian and American higher education student financial aid programs in Canada and the America?

Higher education student financial aid theoretical frameworks of the research: The main theoretical framework that the study uses for this research is based on the college choice literature and the theory of postsecondary education as an investment in human capital. Students estimate the direct costs (net tuition) and indirect costs (foregone earnings) they may incur from going to college and compare these to their expected financial benefits they receive in terms of higher earnings in the future. Financial aid programs may affect a student’s demand for attending college in two ways: by raising the expected net benefits of attending college and by increasing the student’s ability to pay the net price of attendance. The nexus model is about the decision to attend college, which college to enter, choice of major, and the decision to persist until graduation is described as a series of choices influenced by student and family background, net price of attendance, as well as experiences while enrolled in postsecondary education.

Significance of the Study: Grameen Bank major program is group-based micro credit disbursement to its clients in Bangladesh. As of April 2018, Grameen Bank is operating its micro-credit services in 81,401 villages through its 2,568 branches across Bangladesh. It has provided total loans are $24,654 million dollars (cumulated all kinds) disbursed to its 8.97 million borrowers (female borrowers 8.67 million and male borrowers .30 million) in Bangladesh. GB cumulative total loan repaid is $ 22,418 million dollars. The repayment rate is 99.19%. Grameen Bank disbursed student loans $ 52.24 million dollars to 53,925 students (amount disbursed 38.24 million dollars to 40,996 male students and $13.88 million dollars to 12, 959 female students), who are studying higher education in Bangladesh (Grameen Bank Monthly Report, May 8, 2018). However, its statistics do not show how much student loan repaid and what is it’s the repayment rate. It is important to know the repayment status of the GB student loans in order to understand the creditworthiness of the second-generation student loan borrowers of GB.

Grameen Bank has provided USD$ 14.80 billion microcredit loans to 8.6 million borrowers since inception. According to Grameen Bank Monthly Report as of February 2014, 5,431,907 micro enterprise loan borrowers of GB have received USD$ 2,443 million micro enterprise loans, which is 6.06 % of the Grameen total loan disbursement. Average loan size of the micro-enterprise loans is USD$ 450. By the end of the year 2014, 52, 675 children of GB borrowers have pursued higher education (university degrees, medicine, engineering, law, etc.) by receiving GB students loans USD$ 45.85 million. In addition to student loans, the bank offers scholarships to the children of Grameen members to ease their financial constraints for payment of school dues, purchase of books, and stationary. 25, 000 children were awarded the scholarships USD$4.23 million. 50% of the scholarship money goes to girls (GB Monthly Cumulative Report February 2014).

The second-generation of the borrowers of GB are studying higher education and engaging in micro enterprises by receiving GB student loans and GB micro enterprise loans in Bangladesh (Grameen Bank Annual Report, 2012). The author observes Grameen Bank above stated loan programs are popular and effective to second generation borrowers of GB. The second- generation of GB borrowers are running small, medium and large businesses that have promoted much self-employment in Bangladesh.

The Grameen Bank progressive financial programs keep youths in rural businesses that protect them migration from rural to urban areas. After completing higher education in medicine, law, pharmacy, nursing and engineering, the second-generation of the borrowers of GB start tutoring centers, computer training, clinics, Veterinary clinics, naturopathy, law farms, electronics repairing centers and electronics selling centers (Grameen Bank Annual Report, 2012). They open pharmacy, housing businesses, saw mill & furniture, food processing and marketing, transportation and stone business in the villages, suburbs and urban areas in Bangladesh (Ibid., 2012). Now-a- days businesses are very competitive. Micro enterprise loan borrowers could run their businesses more competitively and efficiently if they have financial literary knowledge, business literary training and other support services. Although many studies conducted on Grameen general loans’ impact in Bangladesh, there is no study on GB micro-enterprise loans and GB student loans. The author drafts the student loan manual and micro enterprise manual during his work in GB in 1990s. Hence, he is curious to know about the current status of these programs.

This research attempts to explore policies and strategies of the Grameen Bank student loan programs, identify problems/challenges that are facing the borrowers and discover their needs. The research intends to compare and contrast GB student loan program with the state funded the Canadian and the US student loan policies and programs. By studying the GB student loan and Canadian and US student loan programs could assist GB to improve these programs and their strategies. The study would assist second generation borrowers of GB to get better support services to run and expand their businesses. This research could be a learning lesson to other micro credit institutions (MFIs) in Bangladesh, Canada, the America, and elsewhere. This work could help author’s future teaching and research career development too.

The researcher realizes that studying the Grameen Bank student financial aid program and the North American student financial aid programs have critical impacts and long-term consequences of improving the Grameen Bank student financial aid services in Bangladesh. The lessons from the American and the Canadian student financial aid programs through the research could help many developing countries including Bangladesh to model their future higher education student loan initiatives. It could also help build an NGO-managed model for the higher education student financial aid and higher education student loan services in North America and Europe. The Canadian and the American student financial aid programs are vast and massively run in Canada and the America. They have decentralized management systems that provide prompt, smooth, and effective services to the higher education students for studying and completing their degrees. Hence, these North American student financial aid services and their management systems could be a learning lesson to Grameen Bank Bangladesh to improve its higher education student financial aid services and help the marginalized students to pursue their higher education and overcome their poverty and unemployment in Bangladesh.

In North America even in Bangladesh, access to university education is largely a result of government policies after World War II that encouraged people from high income and middle-income families to pursue university education by offering affordable tuition fees and grants to offset living costs. After the Second World War, USA and Canada’s universities and colleges received nearly all funding directly from the federal and provincial governments. Throughout the postwar period until the late 1980s, university education expanded with students supported with grants, loans and low tuition fees in Canada. However, in 1995, Chretien government in Canada (Regan government in USA in 1980s) passed the Student Financial Assistance Act, which reduced the government’s grants, and government’s exposure to loan defaults. Up to this point, the federal government guaranteed banks for student loan defaults (Glover, 2018). With this act, the Federal Government instead gave the banks a 5% risk share for loan losses (Glover, 2018). The trajectory of university education in Ontario shows a strong trend from a publicly controlled and funded system in the post-war period to the rapid move toward the private sector, which began in the late 1990s.

Canada initiated an Act in 1996 where Canadian each institution can provide student loan funding through the Student Access Guarantee (SAG) to students who did not qualify for enough funding through the Ontario Student Assistance Plan (OSAP) to attend university or college. However, students must first qualify for OSAP, which entails meeting Ontario residency and credit check requirements (Mattis, 2009). If a student does not qualify for funding for OSAP, and they cannot afford their tuition, books, and/or mandatory fees, that student will not be ‘guaranteed access’ to funds from their university or college (Mattis, 2009). It means government funded student loans are controlled and are limited to marginalized students through multilayered (university credit scores, family annual income revenue report, loan approval from government loan agency via university and receive loans from the bank, etc.) student loan screening process.

Charis Glover (2018) research has shown that 90% of Ontarians believe that tuition fees should be reduced or frozen; 59% of Ontarians believe that many people who are qualified to go to college or university do not have the opportunity and 82% of Ontarians believe that the primary reason qualified people do not go to college or university is due to the high cost. Therefore, Chris Glover (2018) comments his research indicates that a move toward eliminating tuition fees, or even bringing them down to the level where students fund 15% of the university operating costs, is likely to increase the access, achievement and mental health of university students.

From 1990-2015, Ontario’s undergraduate tuition fees have increased by 300%. Professional program fees, which were deregulated, have increased by a greater amount. At the University of Toronto, for example, some professional tuition fees have increased by over 1000%, from $2500 in 1990 to $25,000 for medical school and $52,845 for an MBA in 2017 (Bank of Canada, 2015; MacDonald & Shaker, 2012; Rotman School of Management, 2018).

In the 1960s, Ontario introduced a funding formula through which the provincial government-controlled tuition fees at its colleges and universities (Rexe, 2015). The government approved tuition fee increases. Similar situation can be seen in USA too. Students’ access to government funded higher education loans is not easy for students. As the tuitions have increased 30% since 1996 in Canada (in some courses even increased 50%) because of cutback policy; in many provinces, including Ontario, a portion of the cut was eventually passed on to universities and colleges, and then on to students through increased tuition fees (Glover, 2018).

Similarly, in Bangladesh, higher educational public institutions also increase their tuition fees as a result of SAP cut policy in the mid-1990s. Moreover, private universities and colleges in Bangladesh have very high tuitions fees, which is challenging for low income and middle-income family to educate their children there. However, the pattern of steadily increasing tuition fees directly violates the United Nations Covenant on Economic, Social and Cultural Rights, which Canada signed in 1976. Even Bangladesh has promised to gradually make education free or keep tuition fees low at all levels. However, surveys indicate that Ontarians believe tuition fees are too high and would be willing to have their taxes raised to reduce tuition fees (Glover, 2018). Although Canada has state- managed student loan facilities for the higher education students, they need more loans with less rates to complete their advanced level education in Canada. However, the student loan receivers have huge burden to repay their loans because permanent paid employment is very limited in Canada and elsewhere. Many people do minimum wage jobs in Canada, which is not enough to eran more money and repay student loans from their income.

On the other hand, in Bangladesh, there are no state- funded student loan services in Bangladesh. Therefore, many brilliant poor students are unable to go for higher education. Hence, Grameen Bank higher education student loans to the second- generation of the borrowers of GB has given them great opportunities for higher education, which is only one agency providing student loans to poor students in Bangladesh.

Uniqueness of micro enterprise program of Grameen Bank: The micro enterprise program/services of GB are people-centered development programs that have multiplier effects among the marginalized people in Bangladesh (Anan, 2005; Bornstein & Davis, 2010; Dees, 2003; Gibbons, 1995; Goetz, 2001; Henry, 2006; Harris, 2002; Khandlker, 2005; Mahamud, 2004; and Yunus, 2010b; 2008). The second-generation of the borrowers of GB are receiving the GB higher education student loans from Grameen Bank Bangladesh for their higher education in Bangladesh. The GB higher education loan services to the second-generation of GB borrowers have helped marginalized GB second- generation of the borrowers of GB to pursue higher education in Bangladesh and to become economic and social actors in the community in Bangladesh (Yunus, 2010b). Such a type of student loan program (social businesses financing) could be developed by other MFIs in North America and elsewhere to engage marginalized students to pursue higher education and to overcome their poverty and unemployment status in their respective community.

The researcher had worked in Grameen Bank and its other sister organizations in Bangladesh for three decades and he found that Grameen Bank different programs contributed to reduces poverty and promotes small entrepreneurships, coperativism and environmentalism in Bangladesh (Bornstein & Davis, 2010). Yet Grameen Bank micro-enterprise program, GB student loans have been working for more than a decade, there is no research on the GB higher education student loan program. Hence, the research findings could be learning lessons for Canadian and Asian micro entrepreneurs and academicians, because many poor student completed their hogher education and become entrepreneurs who are still seeking micro enterprise business capitals and self-employment support services in Bangladesh. The Grammeen bank micro-enterprise loan program and social business equity financial program benefit the higher education graduates to engage in social businesses and micro-enteerprises and make them sself-employment in Bangladesh.

Theoretical and methodological approach of the study: The researcher develops a questionnaire to collect data using survey method. A questionnaire containing open-ended and structured questions is designed to collect data from randomly selected student loan borrowers of GB through face-to- face interviews. Sixty one student loan borrowers of GB randomly have selected from Grameen Bank. Moreover, he uses participatory observations, literature review, and institutional ethnography (organizational manual, policies and texts analysis) text analysis for this study. The researcher visits Grameen Bank Bangladesh in 2014-15 and 2017 to collect relevant data like receive student loans, use of the student loan, repayment status of the loan from the GB second-generation student loan receivers and post-loan micro entrepreneurs. Moreover, the research collects information on Grameen Bank student loan manual, operational strategy, student loan funding model, repayment system and the challenges faced by the student loan receivers and GB itself. The research also focuses on to the repayment system and repayment status of the GB student loans. In addition, the researcher collects detail five cliental stories from five student loan borrowers to know their studentship performance and post-studentship occupational/business status. These five cliental samples selected randomly from five zones of Grameen Bank in Bangladesh. The researcher maintains diary to collect primary information and take field notes to record interviewees’ main ideas and collects the secondary data from web pages of GB and annual reports of GB.

Data collected in Bangladesh during the period from 2014-2015 and 2017; and in Canada and the America in 2018-2019. Face to face semi-structured interviews were conducted to collect the primary data.

Interviews of the three countries are intermittent and organized in their convenient places and time over a number of sessions each lasting for about one hour. Interviews of the clients are organized by the interviewer. Being semi-structured interviews, the questions are adjusted based on the answers of the informants. Each session is interactive and provided insider views of the participants on various issues depending on the informant’s role within the organization. The interview protocols for each interviewee is directed the nature of questions seeking his/her views on different aspects of the college student financial aid programs.

None of the informants wanted to be audio-recorded or written permission. However all interviews are taken with the oral consent of the interviewees. Notes were taken, and the transcripts are incorporated in this research.

Time table and duration of the study: The research begins in the USA in January 2019. The researcher visits Grameen Bank and process data, analyze data, write a report on the Grameen Bank Higher Education Student Program and share the research findings with Grameen Bank, the School of Education, Indiana University Bloomington USA, American and Canadian student loan financing agencies; and other faculties, researchers, students and community outreach organizations of North American countries and South Asian countries.

Expected outputs, outcomes, and potential usefulness of the research: This research touches on the work of Grameen Bank (GB) higher education student loan service development in Bangladesh that could assist MFIs and other social financing agencies learn from each other. For example, student loan financing agencies in North America, Asia, Africa and Latin America’s micro-financing agencies could learn about the GB higher education student loan legal structures, loan financing models, products and services, operational strategies, policies, and monitoring and accounting systems etc. Moreover, the American and Canadian student loan providing agencies, educationalists, social economy researchers, policy makers, and business students can benefit from this study too.

Direct benefits of the study: This advanced-level social economic social business GB higher education student loan research study could be directly beneficial to GB and to its second-generation student loan receivers and the business capital loan receivers in Bangladesh. This gives social entrepreneurs a space to discuss the Grameen Bank higher education student loan services, student loan receivers’ experiences and their post- social enterprise financing experience. As well as connect them to university social business research and social enterprise organizations to provide them with the GB micro-enterprise research data. This post-doc GB higher education student loan servicing research broadens and improves the researcher’s GB social enterprise knowledge, GB financing models, and their implications in the community in Bangladesh and elsewhere.

Policy implications: The GB has been instrumental in providing income-generating opportunities to poor women and for empowering women through the extension of collateral-free banking in Bangladesh since 1976. This policy empirical research examines whether the Grameen Bank (GB) second generation of the borrowers of GB could adequately enhance the developmental status of GB women borrowers and emancipate them from the dominance of their rich business classmates in their community life. The study further explores the GB Higher Education Student Loan policies, strategies; the barriers of GB student loan receivers. The study looks at what are problems are facing the post-loan receivers, Nabin Uddogtas of GB in Bangladesh. Further the research focuses the leadership of the GB student loan borrowers and their ability to transfer their leadership skills to other public spaces especially in social enterprise development in their communities. The research discerns the GB higher education student loan policies and prodducts of Canada and the American. The research explores whether the GB higher education student loan products, policies have resulted in the increased social enterprise participation of the second generation of GB in their households and communities toward social development. Using the of case GB higher education student loan program in Bangladesh, this policy research brief finds out whether GB includes gender equality in its student loan products to address the role of women in the family and in the community. Are the second-generation student borrowers of GB able to remove obstacles to economic and social progress and higher education in their life; are they able to breakdown patriarchal dominance in society, to alter economic and institutional arrangements, and to promote more choices for women education in Bangladesh?

This policy empirical research finding also assist Kazi Rouf to write a report on the GB Higher Education Student Loans policies, strategies, products, the barriers/challenges are facing the GB student loan receiver as well as GB itself in implementing its student loans in Bangladesh. As well as compares and contrasts between these three programs in Banngladesh, Canada and the America. The report incorporates the support is needed for the GB Higher Education Student Loans borrowers to take part in decisions that pertain to the family and the community for their family social enterprise space development and for their public space leadership development in their communities in Bangladesh. The policy empirical research report creates new knowledge in the field of student loan social enterprise management and development. The paper might help Bangladesh Government, and Bangladeshi other micro finance institutions and many country governments and non-governmental organizations (NGOs) get ideas about the policies and strategies of the Grameen Bank Higher Education Student Loan Program in Bangladesh.

Summary of the book

The book compares and contrasts the state-managed the American and Canadian higher education student financial aid program with the NGO-managed Grameen Bank higher education financial aid program in Bangladesh. Chapter 2 critically looks at the educational policy and policy appropriation process. The chapter also focuses on what educational policy makers do, need to do, the problems and challenges they are facing in implementing the educational policies in society. What are processes could incur to improve the policies to make them useful to socio-economic students (SES). Chapter 3 discusses the comparative education different theories and tools, and links them to the higher education student financial aid policies, strategies, and products to critically see three countries higher education financial aid policies sameness and differences.

The book has three case studies with statistical data in Chapter 4, 5, and 6 where it intensively discuses the Canadian, the American and the Grameen Bank higher education student financial aids’ policies, and policy appropriation process.

The higher education student financial aid program is a social financial investment social economy program that requires the community outreach social marketing education strategy that discusses in Chapter 8. The last chapter (Chapter 9) compares and contrasts these three countries higher education student financial aid programs and how they can learn from each other.

The objective of the book is to contribute to the development and improvement of the state-managed, NGO-managed, and privately- managed higher education student financial aid programs for the needy prospective student. The purposes of the book is to inform the readers, educationalists, researchers, prospective students, educational policy makers, and business economists about these three types of student financial aid policies, products, and how these policy makers change policies, products and the policy appropriation process overtime to make the student financial aid useful to all economic background students to cover their educational expenses while they are studying at colleges. The researcher looking for how these three countries higher education student financial aid policies, strategies and products can applicable for exchanging and learning lessons to each other for improving their student financial aid programs to solve problems that are facing the college students elsewhere in the world.

References

Arends-Kuenning, M.A. & Amin, S. (2001) Women’s capabilities and the right to education in Bangladesh. International Journal of Politics, Culture and Society, Vol. 15 (1), pp. 125– 142

Baldwin, N. & Parkin A. (2007). The Canadian student financial aid system: The case for modernization. Policy Options, pp. 47-53

Babbie, E. & Benaquisto, L. (2009). Fundamentals of social research. Toronto, Thomson

Bornstein, D. and Davis, S. (2010). Social entrepreneurship: What everyone needs to know? New York, Oxford University Press

Barr, N. (2005). Financing Higher Education. Finance and Development: A Quarterly Magazine of the IMF. 42(2).

Canada Student Loans Program (2016). Canada Student Loans – Annual Report 2014-15. Government of Canada. Retrieved from: https://www.canada.ca/en/employment-socialdevelopment/programs/canada-student-loans-grants/reports/cslp-2015.html dated March 20, 2018

Congress (2017). Student loan borrowers’ Bill of Rights Act of 2017. H.R. 3630, 115th Congress. Retrieved from: https://www.congress.gov/bill/115th-congress/house-bill/3630/text dated April 12, 2018

Collinge, A. (2012). The student loan scam: Students still need basic lending protections. Boston: Beacon Free Press

Creswell, J. W. (2008). Research design: Qualitative, quantitative, and mixed methods approach (3rd ed.). Thousand Oaks, CA: Sage

Davis, G. F. 2009. Managed by the markets: How finance reshaped America. Oxford: Oxford University Press.

Dicken, P. (1992). Global Shift: The globalization of economic activity, 2nd edition, London: Paul Chapman publishing

Dees, J. G. (1998). Enterprising Nonprofits. Harvard Business Review (January-February) pp. 55-67

Dynarski, S. (2002). The consequences of merit aid. National Bureau of Economic Research (NBER): Working Paper, pp. 1-37

Eaton, C., Brady, H. E. and Stiles, Jon. (2016). Worlds tpart: The growing resource divide between elite private research universities and Their public counterparts. Stanford, CA: Stanford Graduate School of Education.

Elmore, R. F. (1985). Forward and backwards mapping: Reversible logic in the analysis of public policy, in K. Hanf and T. A. J. Toonen (eds.), Policy implementation in Federal and unitary systems. Dordrecht: Martinus Nijhoff, pp. 33–70

Fallis, G. (2013). Rethinking higher education: Participation, research, and differentiation. McGill-Queens Press, Kingston

Fisher, D., Rubensen, K., Bernatchez, J., Clift, R., Jones, G., Lee, J., et al. (2006). Canadian federal policy and post-secondary education, Winnipeg, Manitoba: Printcrafters.

Frenette, M. (2008). University access amid tuition fee deregulation: Evidence from Ontario professional programs. Canadian Public Policy / Analyse De Politiques, 34(1), pp. 89–109

Gibbons, D. (1995). The Grameen reader.