SALT LAKE CITY - The worldwide Perpetual Education Fund, benefitting young men and women in less-developed countries, is operating in parts of Latin America according to President Gordon B. Hinckley of The Church of Jesus Christ of Latter-day Saints.
An estimated 1,200 students are expected to be participating in the program by the end of the year with more than 3,000 taking part three years from now.
In making the announcement during the 171st Semiannual General Conference of the Church, President Hinckley said the fund has moved forward under the direction of Elder John K. Carmack, who will soon be assisted by Elder Richard E. Cook, both recently released from the Seventy.
President Hinckley said, "The program is up and running. These brethren have been very careful to get it off to a proper start with sound governing principles. We have restricted the area in which it will operate initially, but this area will be expanded as we have the means to do so."
The program is currently functioning in Peru, Chile and Mexico - countries where the number of returned missionaries is large and the need is great. President Hinckley said, "The beneficiaries are learning true principles of self-reliance. Their vision of their potential is greatly broadened. They are selecting good local schools for training, and are using to the extent possible their personal, family, and other local resources. They are appreciative and willing and deeply grateful for the opportunity afforded them."
The Perpetual Education Fund was created to assist, for the most part, missionaries who serve from areas of the world such as Asia, Africa, Mexico, Central America, South America and the Philippines. These missionaries often return to a life of poverty after Church service, lacking the resources to pay for an education.
The fund will provide loans, with minimal interest, to be repaid once the individual has completed his or her education and is gainfully employed.
The program, funded by members and friends of the Church, will be directed through the Church Educational System's institute of religion program, which maintains 321 institute buildings throughout the world as well as 1,950 institute programs from Belize to Nigeria with over 316,000 participants.
Institute directors will accept applications and make recommendations for loans, which will then be issued from Salt Lake City to the institution where an individual will receive his or her education.
Speaking of the potential worldwide benefit of the program, President Hinckley said, "Our only limitation will be the amount we have in the fund. We again invite all who wish to participate to make a contribution, large or small. We can extend this great work which will make it possible for those of faith and latent ability to rise to economic independence as faithful members of The Church of Jesus Christ of Latter-day Saints."
The concept of a perpetual fund is not new to The Church of Jesus Christ of Latter-day Saints. From 1849 to 1887, the Perpetual Emigrating Fund was instrumental in helping more than 30,000 emigrants from Europe and the British Isles emigrate to the United States to join other members of the Church in Salt Lake City and other frontier outposts.
Notwithstanding the poverty at the time, money was given to emigrants overseas with the agreement that the loan would be repaid once they arrived and found employment. This became a revolving resource where money was loaned, repaid and then loaned again to others in need. Many members of the Church today are descendants of those who benefitted from this fund.
President Hinckley said, "We need to care for one another more diligently. We need to make a little more effort to assist those who are down at the bottom of the economic ladder. We need to give encouragement and a lifting hand to men and women of faith and integrity and ability, who can climb that ladder with a little help."
