Applying for Assistance
Eligibility for assistance
Iqraa Trust provides assistance to organisations and we are eager to develop and fund solutions that will empower people irrespective of race, colour or creed.
We also provide student loans since an educated and skilled person can contribute to growth and development in South Africa and share in building a better society for all.
Below are the criteria that need to be met before applying for assistance. All applicants – students and organisations must complete an application form which can be obtained from Iqraa Trust’s offices or downloaded below.
Eligibility For Organisation Funding
The organisation applying for assistance must be a properly constituted body and must be one of the following:
1. The organisation applying for assistance must be a properly constituted body and must be one of the following:
-
Unincorporated Association governed by a Constitution
-
Section 21 Company (Incorporated Association not for gain)
-
Trust
2. Promoting a higher standards of moral values.
4.The Organisation must be engaged in activities that contribute to the upliftment of the community by having a meaningful impact in the following areas:
-
Education & Skills Development
-
Welfare & Social Development
-
Healthcare
-
Sustainability & Climate Change
-
Disaster Relief
3. The organisation must be able to demonstrate that it has the resources (including financial resources), expertise and experience to sustain itself and to implement the project to completion.
5. The organisation must be able to demonstrate that there is a clear need for the project or program and that it will have a positive and long lasting impact on a significant number of beneficiaries in South Africa irrespective of race, gender, age, disability, or religious beliefs
The student applying for a loan must be a disadvantaged South African intending to pursue studies at the tertiary level at an accredited tertiary academic institution which is registered with the Department of Higher Education and Learning in South Africa.
1. Iqraa Trust will consider providing assistance to any disadvantaged South African student intending to pursue studies at the tertiary level at an accredited tertiary academic institution which is registered with the Department of Higher Education and Learning in South Africa. Assistance will be granted to students intending to pursue a career in any field.
2. Details on student loan
-
The student loan will be provided on a profit-free/interest free basis.
-
IQRAA Trust reserves the right to levy a non-refundable application fee which is intended to enable the Trust to cover the cost of administering the scheme, the current fee is R50.
-
The student will have to repay the total amount advanced by IQRAA Trust in monthly instalments over a period which is equivalent to the period of study for which the assistance was granted.
3. Qualification criteria
-
The applicant must be able to demonstrate through his performance at school or at any other tertiary institution that he/she can excel academically and that he/she has the potential to complete his/her studies successfully
-
Students must meet the minimum requirements for entry into the chosen field of study at an accredited tertiary academic institution.
-
The applicant must demonstrate the potential and willingness to repay the loan. An assessment of the ability of the applicant to repay the loan will take into account any other obligations that the applicant may incur in securing the required funding to pursue his studies.
-
The applicant must have a stable background and a character and personality which demonstrates a sincerity and commitment to complete his studies successfully.
-
The applicant must agree to participate in any programs including mentoring programs which IQRAA Trust may implement to assist all beneficiaries of the “student loan scheme”
-
The applicant and the guarantors must comply with the normal criteria used by financial institutions to assess creditworthiness. This would include checks with credit bureaus, banks and other organisations where the applicant enjoys credit facilities.
4. Assistance to students will be provided in the form of an interest free student loan which will be repayable to the Trust in accordance with agreed terms and conditions. Assistance provided in any one year does not in any way imply or guarantee that Iqraa Trust will continue to provide assistance in subsequent years of study. Students who have been granted assistance will therefore have to reapply for assistance each year.
5. Commencing of repayments are structured on the following basis
-
In cases where the applicant does not have the funds to pay the fees immediately (when required by the institution) but the applicant or his parents are considered to have the capacity to accumulate the required funds during the year of study, the applicant (or his parents) will be required to repay the loan concurrently while studying and accordingly repayments will commence immediately after the loan has been advanced.
-
In cases where an assessment of affordability indicates that the student or his parents may not have the funds nor do they have the capacity to accumulate the funds during the year, the student will be required to commence repayments immediately upon the completion of his studies. In such cases the Trust, at its sole discretion, may require the student to pay an amount monthly as repayment towards the loan concurrently while studying.
-
Part time students, if employed, will have to repay the loan concurrently while studying.
6. All applicants must complete an Application Form which can be obtained from Iqraa Trust’s offices or downloaded from our website
The closing date is on the attached download form.
Please note that the completed form together with all supporting information and attachments must either be posted or hand delivered to Iqraa Trust’s Offices. E-mailed or Faxed application forms will not be accepted.
