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In Mexico, higher education is reserved for the privileged few. Only 2% of qualified applicants can afford to attend a private university. Laudex’s goal is to provide all Mexican students with the financial resources they need to achieve a high education.
Founder Francisco Cordero never took his educational privilege for granted. He studied diligently and obtained a degree in Chemical Engineering from Universidad Iberoamericana. During his senior year he accidentally attended a hiring event held by Cementos Mexicanos (CEMEX), and was picked to join its prestigious rotational program for future executives. During these years he traveled across Mexico and was exposed to a variety of business lines. In recognition of his potential, CEMEX sponsored his MBA at Stanford University.
Francisco’s first few months at Stanford redefined his career. He was shocked to learn how readily available student financing was to American students. He imagined how many more Mexican students would be able to attend college if private lending institutions existed to complement the country’s risk-averse banks. He decided to found such an institution upon his graduation, and by 2010 he funded his first student.
Laudex offers flexible loans to students who are unable to afford private university. By partnering with Laudex, universities gain access to a broader pool of applicants. The company structures its debt offerings around the payback capacity of each individual to ensure the highest possible flexibility given the circumstances. Laudex also developed a behavioral scoring algorithm that helps the company predict payback behavior.
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