Jaegar PPT - 2011 USAID Global Workshop on Education and

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Jaegar PPT - 2011 USAID Global Workshop on Education and
Koperasi Siswa Bangsa
an initiative from
Putera Sampoerna Foundation
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
The Putera Sampoerna Foundation
Dedicated to improving and increasing educational and
economic
opportunity,
particularly
for
the
underclasses and women, as a means of leading social
reform to a more egalitarian, tolerant, progressive and
globally engaged nation.
Producing a new generation of leaders for Indonesia’s
business, government and education sectors.
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
A glimpse into the current state of education
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For most Indonesians educational tuition
is highly unaffordable :
1. High school tuition :
• Public : IDR 4 million per year
• Private : IDR 40 million per year
2. University tuition :
• Public : IDR 8 million per year
• Private : IDR 65 million per year
Sources :
1. Kementerian Pendidikan Nasional 2009
2. Badan Pusat Statistik 2009
3. Kemendiknas 2009
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Rate of higher education enrolment by
high school graduates is 14.7%
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1.5 million teens drop out
– 56.4% are due to economic reasons
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The Putera Sampoerna Foundation
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
Sampoerna Sponsored Students
“The brightest of the Poorest”
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
Dr. Walter McMahon
Professor of Economics and Professor of Education Emeritus at
the University of Illinois in Urbana-Champaign and author of
Higher Learning, Greater Good: The Private and Social Benefits of
Higher Education, (Johns Hopkins University Press, 2009),
Winner, Best Book in Education, 2010 PROSE Award Professional
Scholarly Publishing Division of the Association of American
Publishers. In a league with Charles Clotfelter, Robert Lucas and
Paul Romer.
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
Key Findings
The McMahon studies reviewed and analyzed data
from around the world, including Indonesia, and
found that for affecting income and other variables
increasing the number of bachelor degrees in
developing nations has the most rapid and
statistically measurable affects in certain benefit
areas across a society. The affects surpass the
results of governmental interventions such as
welfare and economic development.
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
Benefits of Higher Education
Private non-market benefits from
Social Benefits from higher education
higher education are also impacts on are benefits to others and to future
nation-wide development. They include generations. They include:
contributions to:
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Better Health
Better Child and Spousal Health
Greater Longevity
Child Education and Cognitive
Development
Fewer Children, Slower
Population Growth
More Efficient Household
Management
Happiness
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Democratization and Improving
Civic Institutions
Human Rights
Political Stability
Poverty Reduction
Lower Crime Rates
Environmental Sustainability
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
Higher Education and GDP
GDP/Capita
GER - HEI
$24,500$ 25,000
100%
91.0%
80%
$ 20,000
60%
$ 15,000
$12,800
42.7%$9,200
40%
$ 10,000
32.5%
$7,800 28.1%
20%
20.3%
$5,000
$ 5,000
17.3% $3,900
Indonesia
China
The Philippines
Malaysia
Thailand
South Korea
Source: Dirjen Dikti 2007, CIA World Fact Book 2007
©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
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Challenge: Enfranchise Higher Education
No student loans available in Indonesia
• Typical consumer loans 3-5 year term
• No deferred repayment option
• Must be collateralized
Research by PSF
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Desirability by students and family
Risk resistance
Customer financial and demographic analysis
Salary and repayment formula analysis
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
Loan Program History
• 2006-2009 Pilot Student Loan program w/ IFC
– General public – limited screening
– Broad number of HEI options
Results: High number of low-non-performing loans
• Siswa Bangsa Fund 2010 from Private Donations (USD 3 Million) 170 loans
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New eligibility and screening procedures
Capitalized by PSF through Sahabat UKM – Microfinance Bank
3 years from graduation
High retention of students
• New Fund in 2011
– Capitalized by PSF, banks UBS and RZB and corporate/private social
investments
–USAID DCA guarantee facility (USD 5 Million)
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Loan System Modeling
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System must be Scalable and Sustainable
Must manage eligibility in incoherent environment
Develop non-traditional loan candidate selection criteria
Exercise control and monitoring of academic activities to limit
attrition
Establish a peer and community bond - cooperative
Flexibility in terms and amnesty
Multiple collection mechanisms
Grow and expand
Resistant to corruption
Uncollateralized
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Dana Siswa Bangsa Key Elements
1. Repayment pegged to percentage of actual income
2. Deferred repayments until employed
3. Objective to become self-sustaining - revolving fund
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Limited eligibility and intensive screening
11-14 years financing term, with grace period
No collateral required
Optional monthly support is provided
Loan can cover school fees / tuition and living expenses during
schooling
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
Eligibility and Screening
Eligibility and Screening Process -- Intensive and Expensive
•S3 High School graduation certificate with legal RoI academic report (grade 10 to 12)
with minimum average marks of 7.00.
•Acceptance letter in selected university and program
•Social and economic review – lower quintile
Documentation requirements:
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Completed and signed Application Packages
Certified copy of academic record from grade 10 to grade 12
A copy of the last one month of home electricity bill (if the applicants own a house or live with
parents) or a copy of house/ room rental payments
A certified copy of Family Card (Kartu Keluarga)
A copy of valid National ID card (KTP/Passport)
A copy of parent’s/ guardian’s national ID card (KTP/ Passport)
A copy of the last one month of parent’s salary slip
2 References Letters consisted of one recommendation form from High School Head Master
and one Recommendation form from High School Teacher
©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
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Selection Method
Based on multiple criteria with multiple assessors to ensure its
comprehensiveness and validity within incoherent environment
1.Round One – Application and materials review
Candidates must complete all of the registration documents. Initial assessment of
the values is based on the papers submitted that shows about their class rank,
organization experience, achievement, social activity, reference, and a personal
essay
2. Round two – Values and Resilience
Qualified candidates will be invited to the second round of assessment consisting of:
• Psychological review
– Written essay – self description
– Interview
– Group discussion observed and assessed for social dynamics
– Assess candidate’s views regarding social issues and general knowledge
about Indonesian society
– Assess candidates capacity to transcend traditional repressive social
structures
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Selection Process and Screening
Final Round
•Financial Background Check in neighborhood or village
•Integrity and character assessment
•Credit Scoring - Sahabat UKM
•SelectionTeam will conduct a random home visit to short listed candidates
All loan recipients must join the cooperative:
•Creates community of scholars and cohesion
•Provides peer monitoring students
•Offers counseling, support and advancement services
•Becomes an “alumni association” for life with local and national activities
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
Organic Organization and Management
Multiple Interlocking Management Elements
•The Putera Sampoerna Foundation – Funding and support systems
•ACCESS Education Beyond – Academic screening and guidance
•Koperasi Siswa Bangsa –
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Organizational management
Loan candidate selection process
Student oversight
Community of members
•Bank Sahabat UKM - PSF affiliated SME Bank regulated un ROI
– Loan processing
– Disbursements
– Collections
©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
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Dana Siswa Bangsa Model
The Dana Siswa Bangsa cycle provides more opportunities for more students
to access quality education
Loan
Donation
University
Allowance
Repay
Donor
Students
Contributions
2-5 years
Working alumni
©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
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Koperasi Siswa Bangsa community
Builds Community of Scholars with a Mission - Leadership
•Builds member connections with life-long continuity
•Offers familiar structure of rites and rituals “tanggung renteng”
•Value adding services
• Job fairs
• Internship contracts
• Training and application center
• Career coaching
• Social functions and networks
• Group Community Service Projects
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
Potential & Career Development
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Working together with partners and donors,
Siswa Bangsa provides its beneficiaries with
opportunities to enhance their skills so they can
reach their full potential
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The potential development programs include:
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Lawrence Quahe Student Camp
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Sampoerna students in UK
(British Council Competition)
Leadership
Social and environmental
Entrepreneurship
School exchange
Students’ career enhancement program
involves:
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Résumé-writing workshop
Interview preparation
Internships
Job placement assistance
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Future Goals and Plans
Current and projected loan activity
–360 Current loans under management
–600 Total projected next year
–1000 in next 3 years
–Increasing at 1000 per year into the future based on projections
•Future Plans and Options
–Increasing corporate and individual contributions
–Invite “angel” or social investors to participate
–Plan and test bond offering program Bond Guarantees from ADB, IFC, other
parties (Institution Issuing Bonds) Consortium of banks or individual institution
–Investors (i.e. pension funds, institutional investors)
–Seek additional international capital via internation aid organizations – JICA etc.
•Expand into middle class market
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
Terima kasih dan saya sangat
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
Thank You
Terima kasih dan saya
sangat
best wishes
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©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
International MBA Scholarship Program
Schools Attended
The Wharton School at the University of Pennsylvania
Kellog School of Management, Northwestern University
Stephen M. Ross School of Business, the University of Michigan
Kelley School of Business, Indiana University Bloomington
Melbourne Business School
Anderson School of Management, University of California Los Angeles
London Business School
Harvard Business School, Harvard University
Haas School of Business, the University of California at Berkeley
Mays Business School, Texas A & M University
Manchester Business School
EM Lyon Business School
Fuqua School of Business, Duke University
NUS Business School, National University of Singapore
Macquarie Graduate School of Management
Krannert School of Management, Purdue University
Fisher College of Business, the Ohio State University
Columbia Business School, Columbia University
MIT Sloan School of Management
Kenan-Flagler Business School, the University of North Carolina
HEC School of Management
McCombs School of Business, University of Texas at Austin
INSEAD
©2009. Putera Sampoerna Foundation. All right reserved. Proprietary and Confidential
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