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Bongani is applying for a loan to support his studies for a year at the Maharishi Institute. This is his story:

My name is Bongani and I am 25 years old old. I come from Mpumalanga province, in a small town called Ermelo, and I'm currently studying for a Bachelor of Business Administration at the Maharishi Institute. My mother works as a domestic worker to help provide for my five siblings and me. I am shy, but my hobbies are playing basketball, reading, and singing.

After graduation I hope to get a job so I can help my family, educate my sisters so they can be independent and live a better life. My brother attended university but my oldest sister is currently at home because there is not enough money to take her to school. In today's world, education is a lifetime investment. With my education, I hope to bring change to my community, get a job, and have my own business one day.

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
  • $738,800
    Funds lent in using Kiva
  • 8.4
    South Africa Rand (ZAR) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,050 helped Bongani to pay for tuition fees and living expenses at the Maharishi Institute.
30% repaid
Repayment Term
65 months (Additional Information)
Repayment Schedule
Irregularly
Disbursed:
Sep 27, 2012
Listed
Aug 31, 2012
Currency Exchange Loss:
Possible