February 22, 2012

PEF Helps People in 51 Countries Find Their Potential

The Perpetual Education Fund was established in 2001 when Gordon B. Hinckley, then President of The Church of Jesus Christ of Latter-day Saints, announced a “bold initiative” to help youth in developing areas “rise out of the poverty they and generations before them have known.” He spoke of returned missionaries and other ambitious young men and women who have great capacity but meager opportunities. He said, “Their hopes are high. But many of them have great difficulty finding employment because they have no skills. They sink right back into the pit of poverty from which they came.” (“The Perpetual Education Fund,” Ensign, May 2001, 52-53).

But the PEF is more than just a loan - it helps people see their potential. It teaches them to plan - to choose a great career, select the right education, find work, and organize their finances.

Since the PEF was created, more than 50,000 students have received loans. Thousands more qualify each year. The PEF helps students get into a school that will qualify them for a successful job in the area where they live. Education is usually completed in two years, but loans can be approved for up to six years.

Worthy young men and women - most often returned missionaries - can qualify for a PEF loan if they are between 18 and 30 years of age, active in the Church, and enrolled in the local Institute of Religion. They should live, work, and attend school in an area where the program is approved, and lack the resources to finance an education. The fund is not available in the United States or Canada.

Managed locally, funded globally

The PEF program started in Mexico, Peru, and Chile, and has spread to 51 countries including Mongolia, Cambodia, Kenya, Ghana, South Africa, some Pacific islands, and most of Latin America. Other areas are being added each year.

The PEF program is funded by members who contribute on their donation slips or through LDS Philanthropies. The money collected (the principal) is never spent. Loans are made only from the interest earned on that principal. As students repay their loans, the money goes back into the fund to aid other individuals, making it a perpetual fund.

Perpetuates gratitude, opens doors

In addition to providing financial opportunities, the PEF enables young adults to grow in the gospel. Many program graduates have gone on to become Church leaders and are fortifying the Church in their countries.

Visit pef.lds.org and click on Success Stories to read about how the Perpetual Education fund is blessing the lives of thousands of young men and women around the world. Use this link to watch interviews with PEF recipients.