Manati Alternate Student Funding is a student funding organisation providing innovative funding solutions for prospective students who wish to study at higher education institutions across South Africa but are unable to do so due to financial constraints or the inability to secure financing.
Their vision is to propel prospective students with high potential into becoming highly employable members of the workforce. They achieve this by offering individually assessed student loans based on a student's past performance and future employment prospects.
Additionally, they provide support to students in integrating into suitable workplaces and aim to help shape them into future mentors who will strengthen the upcoming generation.
Riaan, the CEO of Manati, explains that the funding model includes repayments that commence from the beginning but are spread over a longer period to make it more affordable for students. He further emphasises the importance of students taking their studies seriously and not viewing the funding as a freebie, as a student's responsibility to repay the student loan increases their likelihood of completing their studies successfully.
Through unique partnerships with universities, colleges, corporations, and the government, Manati can offer low-interest study loans, enabling the vast majority of students who would otherwise be unable to afford or secure funding to pursue further education.
Manati's ultimate goal is to nurture a generation of intelligent and skilled young South Africans, enabling them to access the education needed to become integrated, skilled professionals who can make a significant contribution to society.
Manati assesses the qualifications students are pursuing and the institutions they are attending, ensuring the likelihood of securing employment upon graduation. They aim to avoid funding qualifications that may not lead to employment, as this could burden students with debt.
Benefits of Manati Funding
Students receiving funding through Manati enjoy fixed instalments during their studies and benefit from low-interest rates on their loans.
Manati also believes that institutions directly benefit from their funding model. Student loans provide institutions access to students from an untapped market who would not have pursued education without the loans.
Furthermore, institutions experience reduced dropout rates, as students are more likely to complete their studies when they have a financial stake in repaying the Manati loan.
