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

I'm Sibongiseni, I am 21 years old and I live in Mapetla, Soweto. I am currently studying towards my Bachelor of Business Administration. I am an only child, and I speak Zulu and Setswana. My cousin has been a great inspiration to me, since he also goes to university and is involved with politics. I believe education will open doors for me and help me pursue my future goal of a career in marketing. After about five years, I'd like to open my own retail business. Another long-term goal of mine is to offer bursaries for disadvantaged kids in the community. In my spare time, I enjoy cycling, practising yoga and listening to music.

Education is important to me because it is difficult to attain a decent job without some sort of qualification. Through education, I am investing in a brighter future for me, my family, and society. Like everyone else, I want to live a wealthy life. The Kiva loan is an important part in helping me plan for my future and achieving the success I wish to have.

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

  • $11,500
    Average annual income
  • 0
    View loans »
    South Africa Loans Fundraising
  • $538,425
    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 Sibongiseni to pay for tuition fees and living expenses at the Maharishi Institute.
23% repaid
Repayment Term
65 months (Additional Information)
Repayment Schedule
Irregularly
Disbursed:
Sep 29, 2012
Listed
Aug 31, 2012
Currency Exchange Loss:
Possible