FAQs

What is a success based payment plan?

Our success based payment plan allows you to receive our services at no-upfront cost. You only pay an income-based membership fee if you earn an income. These fees are very important to help us to support future talents. If however, you become unemployed, we’ll pause your membership payments until you are earning an income again.

What if I change my mind after signing up with Project Y?

You have a right of withdrawal within a withdrawal period that is defined in your contract. If you withdraw from your membership, you have no obligation to pay.

How much do I have to repay once I earn an income?

You pay a share of 15.00 percent of your actual gross income over a period of up to 72 months. In your contract, we will define maximum repayment amount which is regulated by the South African National Credit Act (NCA).

How long is the maximum repayment period?

The maximum number of contributions months will be defined in your contract and depends on the chosen career path. Currently, the maximum number of instalments is 72 months.

Is there a cost to join Project Y?

There is no upfront cost to join Project Y. Our unique model allows you to start learning and earning without any financial burden upfront. You only pay your contribution to the community when you have secured a job. Please note, that there is however a small initiation fee of R120 ZAR.

Does the percentage change during my repayment period?

No, the percentage is fixed from when you sign the membership agreement with us.

When does my obligation to pay stop?

Your obligation to pay will stop once you have reached the maximum number of repayment months defined in your contract or when the maximum repayment cap is reached, whatever happens first. You can however decide to remain a member of Prject Y and do voluntary contributions.

What happens if I lose my job or do not earn an income later?

If you cannot make your contributions due to permanent unemployment or full incapacity for work, your obligation to contribute is completely waived. In the event of death, your obligation to contribute ceases completely and does not pass on to your heirs.

Will I get more information about the repayment model, before my decision?

Yes, we will have offer you a 1-1 session in order to answer all your questions to make sure you fully understand your obligations before you sign a contract with us.

What happens if I want to discontinue my membership or if I get suspended?

If you drop out or get suspended, you are still liable to repay the funding you have received in terms of cash payments or services as part of your membership. If you change your mind within the withdrawal phase defined in your contract, you won't have any further commitments besides the initiation fee.

Can you pay back faster or do a settlement payment?

Yes, you can repay faster by making larger repayments or pay a once off settlement amount, if you wish to. You can apply for this any time and we will then inform you about the outstanding amount.

How do you know that I am receiving an income?

By signing a contract with us, you are obliged to inform us about any changes in your employment immediately. If you work for Project Y as your Employer of Record, we will deduct the membership fees directly. If you work for another employer, we will ask you to update your income and employment status in our membership portal.

Is there minimum threshold before I have to make monthly contributions?

Yes, you are only obliged to make contributions if you earn more than 6,000 ZAR in a respective month.

How can I terminate my agreement?

You can terminate the agreement anytime, however you will need to repay the full funding you have received from us, including accrued interest.

Will Project Y cancel my contract if I get pregnant?

The agreement allows for breaks, so long as these breaks are discussed and agreed to, by you and Project Y. When you are become pregnant, you have the option to temporarily pause your repayments.

Still have a question?
Reach out to us today!

Still have a question?Reach out to us today!

Still have a question?
Reach out to us today!