South African School Girl Matric Deep cleaning services
Photo Cred: Supplied | On File

Since the Feenix platform was initiated in 2017, the community has successfully raised over R85.6 million, which has impacted 2325 students.

 

Johannesburg, South Africa (12 December 2021) – By November 2021, Feenix paid out over R21.3 million in tertiary education funding to 351 students in need of financial aid across the country as part of its ongoing mission to democratise education for South African students.

The economic impact of the ongoing nationwide lockdown has strained students’ ability to fund their tertiary studies. Through these pay-outs, Feenix sought to enable students to enter 2022 with a stronger sense of certainty in an uncertain economic context.

Feenix is a digital crowdfunding platform for students to connect with communities and funders to pursue debt-free education. Corporate and individual funders can invest an amount of their choosing in youth education through the platform by contributing to the remaining balance of a student’s university fees.

“The pandemic has been a catalyst of turbulence for students who need financial support for their studies. While tertiary education fees were already quite high pre-pandemic, funding challenges for students have been exacerbated by the private sector’s tight-pursed response to the national COVID-19 lockdown,” says Leana de Beer, Chief Executive Officer of Feenix.

“Since we initiated the Feenix platform in 2017, the Feenix community has successfully raised over R85.6 million, which has impacted 2325 students,” added De Beer.

Before funds are disbursed, the outstanding debt for each student is verified by Feenix with the educational institutions and is then paid out through the Feenix platform to the universities on a quarterly basis.

Any excess funds raised can be allocated to another student who has not yet reached their fundraising goal.

“These contributions have a truly meaningful impact on students’ concerns about their future. Educational funding challenges have a highly detrimental impact on the daily lives of students, including their levels of anxiety and academic progression, and so we thank this year’s stakeholders for playing a prudent role in alleviating pressure,” says De Beer.

In its 2021 Impact Report which surveyed 295 Feenix students, the organisation measured students’ sense of empowerment in pursuing higher education success through four Thrive Driver indicators: grit, emotional support, financial stability and academic progress.

In comparison to the previous year, students indicated that in 2021 a stronger need for emotional support was felt.

“While we are encouraged by funders’ commitment to helping students pursue debt-free education, we remain committed to supporting students in their overall journey by bringing financial stability into the lives of students as well as a sense of belonging and community,” concludes De Beer.


Sources: Leana de Beer, Chief Executive Officer of Feenix 
Don’t ever miss the Good Things. Download the GoodThingsGuy App now on Apple or Google
Have something to add to this story? Please share it in the comments or follow GoodThingsGuy on Facebook & Twitter to keep up to date with good news as it happens, or share your good news with us by clicking here
Click the link below to listen to the Good Things Guy Podcast with Brent Lindeque – South Africa’s very own Good Things Guy. He’s on a mission to change what the world pays attention to, and he truly believes that there’s good news all around us. In the Good Things Guy podcast, you’ll meet these everyday heroes & hear their incredible stories:
Or watch an episode of Good Things TV below, a show created to offer South Africans balance in a world with what feels like constant bad news. We’re here to remind you that there are still so many good things happening in South Africa & we’ll leave you feeling a little more proudly South African.

Facebook Comments

About the Author

Brent Lindeque is the founder and editor in charge at Good Things Guy.

Recognised as one of the Mail and Guardian’s Top 200 Young South African’s as well as a Primedia LeadSA Hero, Brent is a change maker, thought leader, radio host, foodie, vlogger, writer and all round good guy.

Leave a Reply

Your email address will not be published. Required fields are marked *