Hundreds of millions of adults around the world lack minimal literacy skills, and hundreds of millions more children lack access to basic education. The impacts of this reality are widespread and negative: Lack of education is linked to lower rates of economic productivity, fewer job opportunities and decreased standard of living for those individuals and their families. In addition, lack of access to information (which can result from illiteracy) also hinders related issues such as healthcare and community engagement. An educated, informed and empowered population is required for any countr—in the developed and developing world alike—to improve its role in the global community and the quality of life its citizens can enjoy.
Orrick advises both non-profit and for-profit organizations that are creating innovative ways to build the financial infrastructure necessary to deliver adequate levels of funding for quality education, while promoting educational efficiency and equity at all levels of society. This includes such projects as investment in private schools in developing countries, where public education opportunities are lacking, to the development of student loan financing structures for poor students (from both the U.S. and overseas) to pursue degrees that would otherwise be out of reach. As a result of its efforts, Orrick is helping to seed and empower future generations to build a better tomorrow for themselves, their families and communities, and the world at large.
Completed an innovative financing transaction for Vittana, which pioneered the concept of student microloans four years ago, as issuer, on a low seven-figure debt issuance backed by a loan and guarantee, to deliver educational opportunities to those who otherwise would not be able to access them. In addition, the firm has advised Vittana in connection with negotiating international partnerships.
A team of Orrick transactional attorneys provided comprehensive services to Lumni, an organization dedicated to creating an efficient global market for education finance through the introduction of the HCC. The Orrick team facilitated the development of two loan funds to benefit students in San Francisco Bay Area schools which in turn enabled the students to obtain funding for college. Over time, Orrick's support has enabled Lumni to begin scaling its operations to serve more students. lumni.org