How Does Being Funded By Feenix Work?

Feenix is an online fundraising platform which allows students to fund their studies. Keep reading to find out how their funding works. 

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Feenix is an online fundraising platform which allows students to fund their studies through crowdfunding helping them to avoid the accumulation of debt which brings about issues while they're pursuing their studies. 

They encourage you to access your community and work together to achieve students goals. Being a part of 'the missing middle' has students not being eligible for bursaries at times but Feenix is able to assist these students. The missing middle refers to students who are unable to afford higher education but are not poor enough to qualify for funding through bursaries. 

So how does being funded by Feenix work?

Well, Feenix provides you with an opportunity to communicate with funders to support you and network so that they can invest in your future. Students are able to set up their own profile on the Feenix site and then they may receive donations from various people until they reach their fundraising goal. 

You need to be registered already to create a profile on the Feenix platform so you can fundraise towards your outstanding debt.

Feenix has stated that students may only use the platform to raise funds for the items listed on their university fee statement. They provide funding for students as long as they need help.

So if your fee statement includes tuition, accommodation, book allowances and meal allowances for example, depending on what your university places on you fee statement, you may raise funds for this on the Feenix platform. 

These funds will be paid out to your university twice a year and any excess funds will be reallocated to students who have not yet reached their fundraising goals or will be put towards the Feenix Pool Fund. 

Feenix does not pay out any funds raised directly to students. 

If you are interested in finding funding for your studies, see if you qualify for Feenix. Their requirements are as follows:

  • A South African citizen/permanent resident/refugee or asylum seeker.
  • A registered student at a public South African university.
  • Have current or historical debt owing to your university.
  • Have a combined household income of under R600k per year.

If you do qualify, then you may create your profile on Feenix. 

How To Create A Profile With Feenix

  1. Go to the Feenix website.
  2. Click on 'MENU' in the top right corner
  3. Click on 'REGISTER
  4. Follow the prompts
  5. Upload your fee statement, a certified copy of your ID and a profile picture.
  6. You will also have to share an inspirational story about yourself which will help motivate people to donate to help you pay your fees.

Once you have registered you can start raising funds. 

Feenix is a part of many success stories and has encouraged many to be motivated and make a difference in South Africa. Through donations as well as a passion for education, Feenix has helped over a thousand people pursue their dreams in higher education.

For more information on how to apply for Feenix, click here.

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