WHAT YOU NEED TO KNOW
Are you a motivated learner whose grades qualify you to study further at college or university? If you can’t afford the fees you don’t have to give up your dreams.
Manati provides a personalised approach that seeks to understand and support your potential. Our individually assessed student loans have low monthly repayments while you’re studying, and you only need to finish paying off your loan after you graduate.
We’ll support you every step of way, helping you get your career off to a flying start.
WHO CAN APPLY?
Anyone who is provisionally accepted or registered at a tertiary institution.
WHERE CAN I STUDY?
We are continually adding partner educational institutions to our network. Manati currently provides financial support to students.
WHEN DO I START PAYING BACK?
Your monthly instalments start when you begin your studies. These are fixed instalments at a low interest rate.
HOW LONG DO I HAVE TO REPAY MY LOAN?
Once you graduate, you’re given the equivalent of your study duration to pay back the outstanding amount on your loan. For example, if you study for three years, you will have three further years after graduating to complete your repayments.
WHAT IS THE INTEREST RATE?
Very favourable floating interest rates from Prime + 3% will be charged during and after studying.
IN WHOSE NAME IS THE LOAN CONTRACT?
The contract is in the sponsor's name for the student’s benefit. The student will have the option to take over loan repayments after studying, but they are not obligated to do so.
CAN I MAKE EXTRA PAYMENTS OR PAY OFF MY LOAN EARLY?
Paying off your loan early will reduce the total cost of your studies. We won’t penalise for early repayment.
WHY DO I NEED TO GIVE CONSENT FOR YOU TO USE MY PERSONAL INFORMATION?
We need personal information from the student and their surety/sponsor to determine if they are credit worthy and can afford to repay the loan. You will be asked to provide this personal information by completing an loan application form. However, in order for us to proceed in processing your application, we need your consent. You can give your consent when we speak to you on the phone as all our calls are recorder. Or you will be asked to give your consent when you complete the application online. It is important that you read and understand the consent conditions.
I declare, consent to and understand that:
To the best of my knowledge and belief, the particulars as set out in this form are true and correct, and that no additional information which might affect the decision of the credit provider has been withheld my me, my spouse and the student;
Manati Alternate Student Funding (MASF) and its agents can make enquiries about my credit record with any credit reference agency and any other party to confirm the information provided by me;
MASF and its agents may contact me to request further information if required;
MASF can carry out identity and fraud prevention checks and share information relating to this form to the South African Fraud Prevention Service.
The Educational Institution can send my personal information, as provided by me in this application form, to MASF.
MASF can share my personal information with Verification Information Suppliers to conduct background screening checks including, but not limited to, credit, employment references, proof of income, criminal record, fraud prevention, and ID verification.
Requests for consumer credit information to be released for fraud prevention or detection.
Verification requests form part of the background screening process
Requests for credit information from Credit Bureaus will only be conducted under the regulations defined as per the National Credit Act (NCA); Data obtained from the FSB serve only for the purpose to determine the fitness and propriety as envisaged in the FAIS Act.
Any personal information supplied by me to MASF is provided voluntarily and that the company may not be able to comply with its obligations if the correct personal information is not supplied.
Privacy is important to the Responsible Parties and the Responsible Parties will use reasonable efforts in order to ensure that any personal information in their possession or processed on their behalf is kept confidential, stored in a secure manner and processed in terms of South African law and or applicable Data Protection Legislation, for the purposes I have authorised.
All information, including personal information, supplied to MASF and its agents is accurate and current and agree to correct and update such information when necessary.
By submitting any personal information to MASF and its agents in any form I acknowledge that such conduct constitutes a reasonable unconditional, specific and voluntary consent to the processing of such personal information in the following manner by the company and/or Verification Information Suppliers:
Personal information may be shared by MASF with its agents, Verification Information Suppliers, the Educational Institution, and Financial Services providers for verification or other legitimate purposes;
Personal information may be shared by the Verification Information Suppliers with MASF and be further stored and shared by MASF for purposes of continued or future credit eligibility checks or for other legitimate purposes as per the NCA;
Personal information may be stored for a reasonable period by MASF and/or the Verification Information Suppliers
Personal information may be transferred cross-border to countries, which do not necessarily have data-protection laws similar to South Africa, for verification or storage purposes. In any cross-border transfer of personal information the recipient will be notified of the need to protect the confidentiality of the personal information.
If MASF has utilised the personal information contrary to the Privacy and Data Protection Conditions, I may first resolve any concerns with MASF. If I am not satisfied with such process, I have the right to lodge a complaint with the Information Regulator.
A copy of personal information kept by MASF, its agents and their Verification Information Suppliers will be furnished to me upon request in terms of the provisions of POPI or the NCA and I understand that I may dispute any information in the record provided.
I unconditionally agree to indemnify MASF and their Verification Information Suppliers, acting in good faith in taking reasonable steps to process my personal information lawfully, against any liability that may result from the processing of my personal information. This includes unintentional disclosures of such personal information to, or access by unauthorised persons, and/or any reliance which may inadvertently be placed on inaccurate, misleading, or outdated personal information, provided to MASF by myself or by a third party in respect of me.
In authorising the search/s referred to above, I confirm that I have not been forced or coerced into signing and supplying the above information.