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ONLINE BURSARIES,
GRANTS AND FINANCIAL SPONSORSHIP
With many world-class universities and colleges across South Africa,
study opportunities abound for those who want to get ahead in life
and realise that only through education are any of us truly free.
How, though, are you going to pay for your studies?
Studying is an expensive business, with costs of between R10 000 and
R20 000 for each year of undergraduate study at a South African
university. Specialised or professional degrees, such as medicine,
can cost far more.
Consider your options carefully before deciding how to pay for your
studies, and apply for any award or bursary for which you’re
eligible. Speak to your school teachers, educated adults and other
young people who have already attained their degrees – or are
working on them – about choosing the appropriate school subjects for
the career you want to pursue. Then take a look at who can assist
financially.
Bursaries from Universities:
Most universities offer bursaries or grants to students who have
excelled in their previous studies or on the sports field. Check
with your university’s financial aid office whether you are eligible
for any of these bursaries or awards, and make sure that you apply
before the closing date.
External bursaries:
Many South African companies offer bursaries to promising students,
the terms of which are decided by the company funding your studies.
For example, contract bursaries require you to pay back the bursary
by working at the company once you’ve completed your degree - giving
you a job and work experience immediately after your graduation.
Many mining and engineering companies, in particular, provide
contract bursaries. These can be particularly helpful for the work
experience you will get.
National financial aid:
South African citizens may be eligible for a National Student
Financial Aid Scheme (NSFAS) loan for study at one of the country’s
public higher education institutions. A statutory body funded by the
Department of Education, NSFAS provides study loans to academically
able but financially needy students.
Part of an NSFAS loan can be converted into a bursary, which does
not then need to be repaid, depending on one’s academic progress. A
100% pass rate would result in a 40% bursary rebate on an NSFAS
loan.
The size of the initial NSFAS loan ranges from R2 000 to R30 000.
Contact your university’s financial aid office.
Student loans:
South Africa’s major banks offer student loans, both to South
Africans and to non-South Africans with valid study permits. Unlike
NSFAS loans, bank loans will also cover studies at a private
institution.
When applying for a bank loan, you will have to show proof of
registration at an educational institution. You’ll also need
somebody, such as a parent or guardian, to sign surety for you. This
means that they guarantee you will pay back your loan. Be aware that
non-payment on your part can put the person who stands surety for
you at risk, so do the right thing!
While you will only need to start repaying your loan once you’ve
finished your studies, you will need to cover the interest payments
throughout the term of the loan. A part time job can always assist
with this.
Responsibility:
Take responsibility for your own education and realise that not all
parents can afford to give their children a university education. If
you are lucky enough to be able to attend a tertiary learning
facility, make the most of every minute you have there. Try not to
get distracted by anything besides your studies – the time will pass
quickly and you will have the rest of your life to “fool around”,
once you have that degree safely in hand!
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