The scholarships were valued at Tk800/month contingent upon 65% attendance and marks in class, continuing until completion of grade five, after which the recipient has achieved literacy. AlterYouth added a scholarship management fee of Tk200, amounting to $ 12.5/month, although users from outside Bangladesh have to pay $ 14/month for international payment charges. The mother of the scholarship recipient is provided a mobile phone and a bank account. The donor profile is connected with the student’s profile, the parent’s profile and the respective school’s profile having direct access to each. Every month the scholarships are transferred from user’s bank to the mother’s bank. The user receives the bank statements every month as well as the report card of the scholarship recipient in their profile inbox every quarter to be in the loop. This continues until the student completes grade five, getting a primary school certificate. The donor has now successfully prevented a child from dropping out and ensured a literate citizen for Bangladesh, paving the way towards its 100% literacy target. This also ensures a step towards reducing poverty because achieving literacy will open doors to new possibilities for these children.
As of now, AlterYouth has ensured scholarships for 212 students and plans to make this number grow exponentially. AlterYouth has targeted 900,000 scholarships per month and is working tirelessly towards that goal. The perseverance of the AlterYouth team has led it to become one of the four startups to receive recognition from Grameenphone Accelerators, an accelerator program designed to support early-stage, home-grown tech startups. The journey so far for AlterYouth only goes to show that all it takes is grit and genuine passion to make your dreams into a reality. Asifun Nabi didn’t just make his own dream of someday seeing Bangladesh parallel to countries such as America a reality. He also made dreams of many unfortunate children of achieving literacy such as Sufia, a reality.