Educational credits for MTL members

Listened to Ageris in this morning’s video, specifically this moment at 11:10.
Nice guy, I’d personally give him a little career development credit. But would like to institutionalize the process somehow. Anyway, the idea of educational credits for MTL members was born.
I see the scheme like this:

  1. A person applies for a loan for some paid educational program. Not a very expensive one. Some kind of courses, seminars,… Thousands of them.
  2. The program must clearly increase the applicant’s income. Any gender science stuff is excluded.
  3. The applicant agrees to pay 30% of the tuition himself.
  4. The loan is interest-free and open-ended. It is possible not to return at all, if it did not work out. (But if a person then will post photos from the expensive yacht, we will remember).
  5. I expect that if we really help someone, then in the future he will also help the Fund and new students. In general, everything like in USA universities.
  6. Personally, I am ready to allocate 5000 EURMTL (1000 per person) for the start of the program.

Great idea!

The missing piece is the body who will administer the funds and assess applications, right?

How about going the way Third Fund did: multisig controlled by program sponsors or subset of the sponsors (council)? From my experience of working in the Third Fund council it is not a huge administrative burden. It is lean and easy to start. Later, if there is a huge demand, sponsors may hire a qualified person to operate the fund and may serve as cosigners only.

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Yes, we need administration. This scheme will be good, I think.
I also suggest that all administration of this program should be conducted in this forum :wink:


Third Fund might not be the best to manage this case right now.

Two reasons:

  1. Money separation. TFM is very simple rn and there is no separate budgets within the fund. So far it is just one stack of money, so targeted donations may be spent elsewhere (even accidentally). Can be changed with accounting

  2. Expertise. @Seregan do you (and potential sponsors) trust that TFM council is qualified enough to decide who give the loan to? TFM council is not a board of directors, so shareholders (sponsors) cannot affect it right now, unless they go into council themselves (can be easily done with such donations)

Yeah, maybe we need a separate program. If you could organize it, it would be much appreciated. )

I’ve brought this topic to TFM Council. If TFM decides not to engage, new separate fund can be started, I will help you with this.


@Seregan so TFM doesn’t want to be involved in the application review process, but it can “manage the money”.

From my perspective in this case it doesn’t make sense to use TFM at all. Better start a separate fund. You are the only sponsor so far, so you will be the only one to manage the funds and probably assess the applications. Ready?

Possible steps:

  • create a separate stellar account for donations. You will be the only signer for now.
  • create a marketing post/offer about the program. Calls to action: 1. Apply for a credit by posting on under #educredit category. 2. Donate to the fund to support the cause
  • once there are applications, you review them and decide to allocate the funds or not. These posts will be visible to everyone, right? So anyone can participate in the assessment (if that’s what you want).
  • once there are more people willing to participate in the decision process you may add them to the signers of the donation account.
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How can we record applicants’ debt, loan repayments, and donations from other participants?

Debt and repayment

Each applicant may issue a debt token, similar as @soz did with NKCoin. Token in existing = outstanding debt. Each partial repayment is swap of corresponding amount of debt token for EURMTL and debt tokens get burned.


Depends on what you want. Why would you want to record the donations?

This is not a very complicated procedure?

For example, the applicant paid off his debt and donated to other students. I think we should somehow reflect that in his reputation. It would also be good to make an Honor board of the biggest donors.

:paperclip: Related project idea: On-site bootcamp in MTL City