Access to a quality education was once described to me as the “key to life.” Having grown up in Australia, where earning an education was a luxury I could take for granted, it was sometimes easy to forget the significance of what going to school really meant. Yet in countries where there are so few doors of opportunity, education is not seen simply as a preparation for life—it really is life itself—and the first step on the ladder out of extreme poverty.
With the cost of higher education spiraling ever upwards, creative ideas for footing tuition bills are more important than ever. But what if paying for college became a collective investment instead of an individual one? That's the thinking behind Lumni, a 9-year-old social enterprise that helps finance the cost of college for students in exchange for a fixed percentage of their future earnings over a set period of time.