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Sibusiso
Sibusiso is a student on the Maharishi Institute in Johannesburg. He is applying for a loan to pay for his last semester of tuition fees and living expenses. Sibusiso is 30 years old and was asked the following questions by a member of the Institute:

What do you plan to do after graduation?
“I hope to find a job and work for three years. After gaining some experience, it is my dream to venture into business. Entrepreneurship will allow me an opportunity to be my own boss.”

List 3 long-term goals:
"1. Gain experience
2. Entrepreneurship
3. Community development."

Why is education important to you?
“Business is related to education. Business plan, contract forms, etc. -- all these require one to learn and understand them. It gives you understanding so that you can make strategic plans.”

Why are you applying for the Kiva Loan?
“The Kiva loan will make it possible for me to pay for my fees.”

What are your hobbies?
“Reading, watching uplifting movies, listening to music, relaxing with friends and telling jokes.”

Where are you from?
“I was born in a small town called Newcastle in KZN. My granny used to go to school to sell; that is how we were raised. During that time my mother used to work in Joburg and she still does. They are so excited about my BBA and they hope that I will help them.”

Are you the first family member to attend University? Do you have any other siblings in school?
“Certainly I’m the first. Yes, I do have siblings who attend school in Newcastle. Since I’m the first to attend university, I am also planning not to be the last.”

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
  • $875,025
    Funds lent in using Kiva
  • 9.2
    South Africa Rand (ZAR) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Sibusiso to pay for one semester of tuition fees and living expenses at the Maharishi Institute.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Irregularly
Disbursed:
Jul 15, 2013
Listed
Apr 25, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 24, 2016