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

My name is Banele and I am 21 years old. I enjoy reading, writing, travelling and motor sport. Currently, I am studying towards a Bachelor of Business Administration at the Maharishi Institute. I am the youngest in a family of four and we come from De Deur region of Mid-Vaal. My family are very loving, hardworking people and we value education and dedication. My parents are patient and honest people whom I respect very much because of everything they have done for me and my siblings.

After graduation, I plan to expand my recycling company. I'd also like to help educate youth and to invest in programs for disadvantaged young people. I want to motivate students at Maharishi Institute to reach and achieve their goals and help Maharishi to become the greatest university in South Africa. Ultimately, I want to be independent and strive for greatness. I plan to graduate in 2014 and believe education is an important tool in achieving my dreams.

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
  • $741,075
    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 $2,075 helped Banele to pay for tuition fees and living expenses at the Maharishi Institute.
30% repaid
Repayment Term
65 months (Additional Information)
Repayment Schedule
Sep 29, 2012
Aug 31, 2012
Currency Exchange Loss: