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Still, with major higher education issues on the table for the 2013 legislative session, including potential changes to how the state finances institutions, some observers say they have faith in his ability to learn on the job.
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A closer competitor to Wonga would be community development finance institutions, or CDFIs.
He contrasted the aggressive outreach efforts of elite private U.S. universities with Britain's publicly financed institutions.
OTTAWA — Like most prominent and publicly financed institutions here, the National Gallery of Canada does not escape controversy.
So federally financed institutions are hurrying to come up with contingency plans that they compare to those for a hurricane or a blizzard.
Different approaches to lending in poor neighbourhoods have meant that community-development finance institutions (CDFIs) have performed fairly well in the past three years.
Rising consumer anger at predatory collection practices coupled with a tough new state law pushed micro-finance institutions in Andhra Pradesh toward insolvency.
"Banks and finance institutions cut back on leasing, so fewer vehicles are coming back off lease after two to three years," said Alec Gutierrez, an analyst with Kelley Blue Book.
But sanctuaries usually lack the resources to care for an influx of animals, and many of these privately financed institutions were hit hard by the recession.
Social entrepreneurship, for-profit social enterprises and transparent micro-finance institutions are more effective ways of empowering communities and closing the poverty gap.
Micro-lending, by micro-finance institutions or by self-help groups (in which borrowers club together to provide collateral), is increasing.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com