May
31
Education Giant Seeks Private Funding as Brazil Cuts Loan Aid
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Kroton, rivals mulling options to finance state-backed loans
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CEO Galindo aims to announce venture with bank by year end
As Brazilian subsidies for everything from housing to student loans dry up amid the recession, the country’s biggest education company is betting private financing will help fill the gap.
Kroton Educacional SA, which has more than 1 million students, is working on a joint venture with a bank to provide financing for higher-ed student loans — a first step, though one that Chief Executive Officer Rodrigo Galindo says isn’t enough. It’s also working with competitors on a proposal to shift some financing of state-sponsored loan programs such as Fies and Pronatec to private entities, he said…
Education Giant Seeks Private Funding as Brazil Cuts Loan Aid
