Update on BonganiBongani is appyling for a second loan to support his last year and a half of studies at Maharishi Institute. He will graduate in December 2014. When asked about his progress since the first Kiva loan, Bongani reports:
"The Kiva loan has helped me to continue studying at Maharishi Institute. And I'm grateful that I don't have to worry about paying my fees or transport."
Previous Loan DetailsBongani 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 ... More from Bongani's previous loan »
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 InformationThe 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.
Concurrent and Successive Loans
About South Africa
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This loan has been fully funded!
- Repayment Term
- 123 months (Additional Information)
- Repayment Schedule
- Jul 15, 2013
- Apr 22, 2013
- Currency Exchange Loss:
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.