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

My name is Nkululeko, I'm 22 and I am from Diepkloof, in Soweto. I am studying for a Bachelor of Business Administration at the Maharishi Institute.

Both my parents are deceased and I am living with my grandmother, my brother, my cousin and my nephew. The household is run on the monthly pension grant that my grandmother receives from the government. I fully depend on my grandmother for my school expenses. In my spare time I read newspapers, listen to music, play soccer, do graffiti and gardening.

I plan to graduate by 2014. I'd like to buy a house and bring financial liberation to my family. I hope to be employable after graduation, and I hope to have the knowledge and confidence to start my own business. My long-term goal after graduation is to enrol in an MBA program and start an NGO (Non Governmental Organisation).

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
  • 3
    View loans »
    South Africa Loans Fundraising
  • $700,425
    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 Nkululeko to pay for tuition fees and living expenses at the Maharishi Institute.
26% repaid
Repayment Term
65 months (Additional Information)
Repayment Schedule
Irregularly
Disbursed:
Sep 28, 2012
Listed
Aug 31, 2012
Currency Exchange Loss:
Possible