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Nomvula
Nomvula is a Business Management Student at the Maharishi Institute. Nomvula is 24 years old and was asked the following questions by a staff member of the Institute:

What do you study at the Maharishi Institute and what classes do you enjoy most?
“I am studying Bachelor of Business Administration. The classes I enjoy the most were Maths classes, Business Fundamentals, and Personal Money Management.”

What are your goals after graduation?
“After graduating from Maharishi Institute, I want to work in those big financial institutes, such as the Banking and Finance sector. I would like to work in a company situated in Johannesburg.”

Tell us about your background?
“I live in Duduza, (Nigel) where I was born and raised. At home, we are a family of five, we are all depending on my mother. I live with my mom, my siblings: brother (17) and sister (20). And we also live with our cousin (10) who is also my mothers dependent. My mom is working as a general worker in some primary school named Iphahamiseng. P.S. My father died in June 2007.”

What do you do in your spare time?
“I enjoy reading books, especially novels and newspapers. I love drawing and watching television.”

How will the Kiva Loan change your life?
“Kiva Loan will make a huge difference in my life, because I will be able to pay my fees as expected every month, I will also use the money for transport, for I spend R40 a day. If I get this loan, I won’t have to be absent from school anymore as I’ll be having enough money to commute.”

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
  • 9.2
    South Africa Rand (ZAR) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,050 helped Nomvula to pay for one year of tuition fees and living expenses at the Maharishi Institute.
17% repaid
Repayment Term
66 months (Additional Information)
Repayment Schedule
Irregularly
Disbursed:
Jul 15, 2013
Listed
Apr 26, 2013
Currency Exchange Loss:
Possible