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

I am Thabang and I'm 23 years old. I am currently studying for a Bachelor of Business Administration at the Maharishi Institute. I will graduate in 2014 and I hope to be able to raise the capital to start my own business. I'm looking at media, fashion and logistics. Ultimately I'd like to build a hospital in a rural area. My dream is to give back to the community and help other children who can't afford to go to school.

My parents are both unemployed and I am an only child, therefore there is a lot of responsibility on me to support the family. I am the first in my family to attend university as well. My mother used to work as a domestic worker, and my father as a postman. In my spare time I enjoy playing soccer, listening to music and reading.

Education is important to me because it gives me the competitive edge. As someone who wants to own a business one day, it is important that I get an education so that I can use the opportunities available to me in the best way possible.

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
  • $533,525
    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 Thabang 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
Sep 4, 2012
Currency Exchange Loss:
Possible