Education
"Educate a girl, and you educate a village," an African proverb goes, illustrating the ripple effect of educating women and the role that women play in making a difference in the lives of those around them.
Totsie Memela-Khambula, CEO of EduloanSince its inception in 1996, Eduloan has granted over 620,000 loans. 52% of these have been awarded to women. What is notably interesting is that there has been a sharp increase over the last three years. When reviewing this period women account for 62% of the total base, either studying themselves or sponsoring a dependent.
"As Eduloan, we are proud to be transforming the lives of not just individuals but families and communities," says Totsie Memela-Khambula, CEO of Eduloan, SA's leading education financier and bursary administrator. "We are particularly proud of the women who take the initiative to change their lives for the better, thereby taking charge of their destinies. It is our belief that it is never too late to realise your dream and help others do the same, and we exist to enable people to access education opportunities."
Since 1996, Eduloan has disbursed over R3-billion in educational loans to men and women to help them and their dependants further their studies.
Among them is a Pretoria teacher and mother of four, Maria Mokgokolo.
Maria approached Eduloan when she found herself widowed and faced with the challenge of educating her four children alone. She had approached several banking and financial institutions for assistance with no success. Her salary as a teacher and her responsibilities as a single parent disqualified her from getting a loan.
She applied and qualified for a study loan with Eduloan. "Eduloan was there for me when I needed help most," says Maria. "They responded to my application quickly, and treated me with dignity and professionalism. The Eduloan staff understood the challenges I was facing.
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She used the loan to attain her dream of studying towards a B.Com degree. To date, Maria has taken out a total of 44 loans with Eduloan over a number of years.
In addition to finishing her own studies, she was also able to pay for the tertiary education of her three older children.
"I have been able to pay for my children's tuition and also meet my loan repayment obligation because of Eduloan. The interest rate is affordable and the payment terms flexible and tailor-made according to my profile."
Another woman who has been able to inspire her son to go after his dream is Gloria Sekwana who died tragically during a stampede in January this year when she accompanied her son Kabelo to register for a degree in Biomedical Technology at the University of Johannesburg.
Following the tragic passing of his mother, the University of Johannesburg offered Kabelo a bursary to pursue his studies and Eduloan is paying for his accommodation, meals and books.
Kabelo credits his mother for his perseverance and passion for bettering himself through education.
"She taught my brother and me to value education particularly because of its ability to open doors and endless opportunities. She was a strong believer in studying to broaden your horizons. It's been difficult, but I'm doing ok. My finals are coming up soon and I think that I will get good results."
Michelle Branco, chief commercial and marketing officer at Eduloan, says the company is determined to make sure that more women are able to access opportunities to educate themselves.
"We have recently launched a marketing campaign to start a movement to encourage South Africans to take charge of their destinies. As the campaign emphasises, the time is now for those wanting a better life to make that dream come true."
She says Eduloan is here to help, "and no one understands education needs like Eduloan does".