This paper describes an estimation of economic losses in Peruvian educational buildings for different levels of seismic action. Opinions of experts were processed to generate seismic intensity versus damage relationships. Economic losses were then expressed through fragility curves and damage matrices. For frequent earthquakes (50-year return period) a 50% loss would be expected in adobe buildings and 20% loss in confined masonry structures built before 1997. During severe earthquakes (500-year return period) only confined masonry structures built after 1997 would be repairable at a cost of around 40% of their original cost.