COLFUTURO Year Book of Selected Candidates 2019

Sponsor-Credit Program Support of the National Government This is the main program of COLFUTURO. It was created with the aim that the most talented Colombian citizens can access postgraduate education in the most recognized universities in the international stage. Thanks to this program, students can request a loan for a maximum of USD 50,000 for up to two years, in order to finance their postgraduate education. As from 2017, the maximum percentage of debt waiver may reach up to 80% of the value of the sponsor credit. The percentages of the sponsor depend on the decisions that the beneficiaries take, as follows: 20% of the capital for programs on Management and Law, and 40% for all the doctorate degrees and other areas. Additionally, 20% for those persons that work out of Bogotá for three years, or 20% for those who work on the public sector or academia for three years. Said percentages of debt waiver are cumulative, for which the sponsor component may reach 80%. In the framework of this program, unique in Colombia, a rigorous selection process has been developed, in which the criteria for selection is the academic excellence of the nominee and of the chosen program. To this date, 28 promotions of students that have represented Colombia in the most prestigious universities worldwide have been selected. The experience and integrity with which COLFUTURO has assumed the selection process and general management of the Sponsor-Credit Program (PCB, for its acronym in Spanish) has consolidated this support model as a leading initiative in Colombia and Central America. In 2007, the first cooperation agreement between the National Ministry of Education, the Colombian Institute of Education Credit and Foreign Technical Studies (Icetex, for its acronym in Spanish) and COLFUTURO, was signed. One year later, this agreement was extended by Colciencias, Icetex, and COLFUTURO. For March 2009, it was determined that the national Government would assume, for at least nine years, the resources corresponding to the debt waiver (sponsor) that is given to the selected professionals in the Sponsor- Credit Program. In 2017, through the National Council of Economic and Social Policy (Conpes, for its acronym in Spanish) 3862 of 2016, that amended Conpes 3835 of 2015, the new schema of debt waivers for the Sponsor-Credit Programwas established, and the Government agreed to contribute COP 698,000 million to support the growth of COLFUTURO until the year 2025. 24 Selection process 2019