On March 31, 2001, President Gordon B. Hinckley announced that the Church was establishing the Perpetual Education Fund to help returned missionaries and other qualified young Church members escape the grinding poverty that exists in so many countries. Elder John K. Carmack was named director of PEF and was charged by President Hinckley to accumulate a fund, put in place procedures for making and collecting loans, identify recipients, and give overall leadership to this innovative plan.

The PEF program resembles in many ways the Perpetual Emigration Fund of earlier times. Through low-interest-bearing loans, the modern PEF provides impoverished young people educational opportunities that prepare them for better employment and subsequently allow them to marry and establish families while also helping mitigate poverty in the communities where they live.

In this fascinating narrative, Elder Carmack places PEF in its historical context, discusses its scriptural and spiritual foundations, names those who have been involved in its organization and implementation, and explains how and why it works. He also shares inspiring stories from young participants who are now realizing their hopes and dreams in scores of countries around the world. A Bright Ray of Hope is a joyful celebration of yet another triumph in the redemptive, latter-day work of the Lord.