HONDUFUTURO is a Honduran non-profit foundation established with the support of 9 of the most important companies of the private sector in the country. Its main objective is to provide financial support and increase the possibilities of Honduran citizens to access high-quality postgraduate study programs abroad.
Thanks to this initiative, students, after finishing their postgraduate studies, will be able to return to the country and encourage the promotion of constant social, economic and cultural transformation in Honduras.
The financial support model we use is a Scholarship-Loan. HONDUFUTURO offers each student up to US$25,000 per year for a maximum of two years. In total, the foundation offers loans of up to US$50,000. Students may be awarded scholarships for 50% of the loaned amount, provided they accomplish these three requirements: (1) be awarded their postgraduate degree, (2) return to Honduras, and (3) remain and work in the country for three to five years. Students may also obtain an additional 10% discount if, upon returning to the country, they engage in employment for one consecutive year as teachers in public or private universities. Those pursuing Masters' degrees in management or MBA programs are awarded only 25% scholarship of the loaned amount.
In 25 years HonduFuturo plans to invest over U$15 million in postgraduate education.
To participate in HONDUFUTURO's yearly application process, students shall follow the regular admission process to the program in the educational institution in the country of their choice. HONDUFUTURO does not get involved in the different universities' or in their study programs' application and selection processes. Additionally, applicants shall demonstrate advanced proficiency in a foreign language and hold an undergraduate degree.
Selecting the Scholarship-Loan Beneficiaries
The selection process considers three main criteria: academic quality of students, the quality of the study program, and the comparison amongst all applicants, maintaining each student's anonymity. The academic quality of students is assessed with three aspects: undergraduate GPA (Grade Point Average), ranking position within their graduating class and an essay.
The academic program's quality is determined by a comparative analysis of the academic program that the student is interested in pursuing. To accomplish such a task HONDUFUTURO bases its decision on assessing the study programs, not the educational institutions by themselves; it verifies international rankings based on fields of study and analyses aspects like teacher training, awards, program accreditation, years of experience of the school, admission requirements, admission rate, and the overall characteristics of the educational system.
Candidates are organized from the highest to the lowest pursuant based on the average of their grades and the scores obtained. Then, committees of experts in twelve different fields of study review the lists of applicants and draw the standard cutting line.
Without a doubt, this process follows total transparency standards; all candidates participate in the selection process under an equal opportunity basis.