Fostering Financial Inclusion and Education Access in the Global South: Collaborative Stratagem

Joseph Owuondo
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Joseph Owuondo: Doctor of Education, Candidate San Diego California

International Journal of Latest Technology in Engineering, Management & Applied Science, 2023, vol. 12, issue 10, 34-40

Abstract: This investigation delves into the intricate challenges surrounding financial inclusion and convenient access to high-quality education within the Global South, encompassing regions such as Latin America, Asia, Africa, and Oceania. The study underscores the pressing imperative for concerted action to ameliorate the dire state of the education system. A considerable segment of the populace grapples with limited access to superior education due to financial constraints, inadequately trained educators, substandard learning environments, and the exclusion of children with varying abilities. These barriers impede not only individual advancement but also stymie collective socio-economic progress, perpetuating disparities in society. The study accentuates the pivotal role played by partnerships, advocacy initiatives, and innovative financial paradigms in surmounting these challenges, drawing upon an extensive corpus of research and empirical data. Emphasizing the necessity of forging collaborations among commercial enterprises, non-profit entities, and educational institutions, it aims to bridge the resource and infrastructure gaps in education. Propelled by advocacy campaigns, policymakers, communities, and diverse stakeholders can be effectively convinced of the profound value of financial education and literacy. A significant obstruction scrutinized in this study is the financial aspect, constituting a formidable barrier to accessing high-caliber education across the Global South. Financial constraints manifest in elevated dropout rates and diminished educational attainments, exacerbating extant societal disparities. Innovative financial strategies, such as grants, scholarships, microloans, and digital payment alternatives, serve as potent instruments for bolstering accessibility and affordability of higher education. Concluding this study is an exhaustive compendium of recommendations to redress these pressing challenges. These recommendations encompass fortifying partnerships, advocating for enhanced financial literacy, implementing cost-effective measures, augmenting the availability of scholarships and grants, and underscore the vital importance of international cooperation. The research underscores the criticality of funding teacher training programs and bolstering educational infrastructure as indispensable components within a holistic strategy aimed at enhancing education within the Global South.

Date: 2023
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