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Clerence
My name is Clerence and I am 22 years old. I am a registered student studying towards my bachelor of business administration through Maharishi University of Management, facilitated by the Maharishi Institute. I enjoy playing soccer, cooking, and reading. My family is from a rural area of Mpumalanga. I have four siblings and am the first in my family to attend university. My family is struggling financially and my parents are unable to afford good accommodations for me.

The Kiva loan is an important part of my education because without it, the chances of me graduating decrease. My dream is to start my own business and bring my family out of poverty. I also hope to further my studies whenever the opportunity arises in the future. I expect to graduate in 2013 and a Kiva loan will help me get there.

Additional Information

More information about this loan

This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.

Maharishi students repay their loans with work-study wages while attending school. However, due to the unpredictable nature of their work-study schedules, they may not be able to make regular repayments. In these instances, Maharishi Institute provides an advance that is deducted from students' future wages. This gives student borrowers more flexibility in meeting their loan repayment obligations while they are still in school.

Important Information

The Maharishi Education for Invincibility Trust (MEIT) extends educational opportunities to poor and historically excluded students in South Africa. By combining distance and computer learning with practical experience, the institute equips students with access to the skills and training they need to compete in tough job markets and build bright futures. Kiva funding will help students pay for tuition and other basic expenses so they can study and thrive.

Maharishi students take out loans for each year of tuition separately on Kiva. Each concurrent loan's repayment period begins after the previous load has been fully repaid.

About South Africa

  • $12,700
    Average annual income
  • 0
    View loans »
    South Africa Loans Fundraising
  • $725,975
    Funds lent in using Kiva
  • 8.2
    South Africa Rand (ZAR) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,125 helped Clerence to pay for tuition fees at the Maharishi Institute.
41% repaid
Repayment Term
58 months (Additional Information)
Repayment Schedule
Irregularly
Disbursed:
Aug 24, 2012
Listed
Jul 23, 2012
Currency Exchange Loss:
Possible