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Jacob
Jacob is a business management student of the Maharishi Institute. Jacob is 23 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 study at the Maharishi Institute because it mainly deals with human development, reaching my full potential. I enjoy the daily TM (Transcendental Meditation) and Sidi-program (Advanced Techniques) and currently I enjoy the economics class. Algebra is also my favourite.”

What are your goals after graduation?
“After graduation, I would love to work as a financial analyst and work at the Johannesburg Stock Exchange. A couple of years thereafter, I would like to open my own consulting company. I would love to work in London, UK, but my heart will always remain in Africa, where I’d also open offices around the continent in order to play in the development of Africa’s wealth.”

Tell us about your background?
“I was born in Tembisa and grew up in Johannesburg all my life. I have a 34-year-old brother. My mother works as a domestic worker and I have been living with her as a single parent. My father works as a mechanic, but he hasn't played a huge role in my life until recently, when he has shown initiative and added some support. I am grateful for both my parents. I have a 3-year-old beautiful daughter who currently lives with her grandparents in Limpopo and, as a young father, I want a better life for myself so that she also can have a better future.”

What do you do in your spare time?
“I like collecting books. I read motivational books, business books as well as spiritual books. I also play lots of sports, mainly soccer and cricket.”

How will the Kiva loan change your life?
"It will help me achieve my goal of graduating and help me with having no financial burden after graduating, since I will be repaying the loan at a reasonable rate. It will also help me with travelling expenses – meaning there will be no excuses for me not going to school.”

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

  • $12,700
    Average annual income
  • 1
    View loans »
    South Africa Loans Fundraising
  • $741,075
    Funds lent in using Kiva
  • 9.3
    South Africa Rand (ZAR) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,025 helped Jacob to pay for one year of tuition fees and living expenses at the Maharishi Institute.
18% repaid
Repayment Term
66 months (Additional Information)
Repayment Schedule
Irregularly
Disbursed:
Jul 15, 2013
Listed
Apr 27, 2013
Currency Exchange Loss:
Possible