The Wesolve4X Student Debt Stokvel campaign has seen a growth in the number of applicants since launching our portal in March 2022. This further highlights South Africa’s student debt crisis that continues to oppress thousands of young people across the country.
The number of students on our database currently exceeds 10 656 with a debt of over R763 million and more expected to apply. The pilot phase of the student debt stokvel which was launched just four months ago was an amazing success, resulting in R1.3 million worth of varsity debt being whipped off.
The initiative is now moving forward by hosting haircut and carwash drives to bring awareness around the R14 Billion student debt crisis while raising funds to assist those who are on our database. All South Africans including individuals and companies are invited to join the drive.
We also continue to encourage people to contribute as little as R100 towards the initiative so we can assist as many people as possible. The pilot phase became a success through the selfless contributions of community members and organisations that care about the future of our nation.
“We must remember to help those who are still bound by the chains of poverty and inequality as we observe freedom month. As Wesolve4X we are pushing forward by building more partnerships in bringing an end to the student debt crisis,” says Wesolve4X CEO Tsietsi Ngobese.
Student debt is a serious issue which needs to be resolved urgently. Indebted individuals are prevented from securing jobs in the area of study after graduation while others cannot complete their studies due to financial exclusion.
“It does not make sense for us to preach that education is the key to success, while we have people who cannot progress through institutions of higher learning. The impact of student debt will have a negative effect on our economy,” Ngobese says.
Students or graduates can apply to be on the database through the student debt stokvel portal on the Wesolve4x website. Those who would like to make donations or join the carwash fund raising campaign can also visit the website for further information on how to participate.
