Guatefuturo is a Guatemalan non-profit foundation that was established in 2006 with the support of the National Government and some of the most important companies of the private sector in the country at that time. Its main objective is to provide financial support and increase the possibilities of Guatemalan citizens to access high-quality postgraduate study programs abroad. With a total population of 16.3 million inhabitants, only 0.1% of Guatemalan professionals have postgraduate degrees, most of those degrees represent a master level attainment, with an additional and no statististical significant doctoral attainment. Thanks to this initiative, students, after finishing their postgraduate studies, return to the country and encourage the promotion of constant social, economic and cultural transformation in Guatemala.*
The financial support model we use is a Scholarship-Loan. Guatefuturo 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$50,000. Students may be awarded scholarships for 50% of the loaned amount, provided they accomplish these three requirements: (1) be awarded their postgraduate degree, (2) return to Guatemala, and (3) remain in the country for three to five years. Students may also obtain an additional 10% discount if, upon returning to the country, they engage in employment for one year in the public sector, or as teachers or researchers in public or private institutions. Those pursuing Masters’ degrees in management or MBA programs are awarded only 25% scholarship of the loaned amount.
Over US$ 8 million invested in postgraduate education
In the year 2008, Guatefuturo selected 10 beneficiaries. But, thanks to private sector donations and to the National Government, the number of beneficiaries supported has grown five times its size. In 2017, the foundation reached its goal and supported over forty-five beneficiaries. Throughout 10 years, GUATEFUTURO has financed postgraduate education programs for nearly 300 hundred students in 27 countries. In aiming to increase financial benefits for students, Guatefuturo has fulfilled 38 agreements with several institutions that serve to award full or partial scholarships to students supported by the foundation. In exchange, Guatefuturo endorses the promotion of these institutions in Guatemala through informative sessions, distribution of promotional materials and virtual communications in our website, as well as, through popular social networks.
To participate in Guatefuturo‘s yearly application process, students shall follow the regular admission process to the program in the educational institution in the country of their choice. Guatefuturo does not get involved in the different universities’ or in their study programs’ application and selection processes.
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. that has evolved and perfected itself for more than 10 years, a grade ranging from 20 to 100 (where 100 is the highest score) is given to the academic program that the student is interested in pursuing.
To accomplish such a task Guatefuturo 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 mark 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 cut line. Since 2008, the selection process results are published at our website where selected candidates are listed with their academic information.
On a yearly basis, Guatefuturo goes through this process following total transparency standards; all candidates participate in the selection process under an equal opportunity basis. Thanks to over 10 years of experience, we are certain that we have selected the most talented Guatemalans for the world and the best of the world for Guatemalans.
*Data from UNESCO refers that around 2013 there was 0.2% of total population from 25 years and older (6.05 million) that completed a master´s level. There was a no significant population for doctoral attainment (reported amount is negligible at country level). Based on UNESCO report, the equivalent percentage would be 0.07 % (approx. 0.1 %) for master level for the 16.3 million of 2016 population.
Board of Directors
- Luis Lara Grojec, Chair of the Board.
- Rodrigo Cordón Gándara
- Mario Vela
- Ana Lucrecia Montes de González
- Luis Miguel Castillo Lavagnino
- José Rubén Zamora Marroquín
- Rolando Archila Dehesa
“Education is the most powerful weapon
which you can use to change the world.”