Now that the matric results are out many young people are currently concerned about how to finance their studies and are unaware that there are still some options available to them.
Now that the matric results are out many young people are currently concerned about how to finance their studies and are unaware that there are still some options available to them.
Although applications for many bursaries have been closed there are still a few places where prospective students can access funding.
The Funza Lushaka Bursary Scheme (an initiative of the national Department of Education) is available to learners looking to study towards a teaching degree. For this year, an amount of R424-million has been allocated for this bursary scheme.
This multi-year programme covers all essential expenses such as tuition and residence fees, books and stationery, general living expenses as well as a monthly allowance. In return for receiving the bursary, students are expected to work one year for the government at a public school for each year that the bursary was received.
Application forms can be obtained from the Financial Aid Office of any higher education institution or from www.funzalushaka.doe.gov.za.
The national department of Social Development is also offering scholarships to financially needy and academically deserving students who are looking to study towards becoming a social worker. The scholarship package includes registration fees; tuition fees; exam fees; textbooks; pocket money; accommodation and meals. Application forms for this scholarship can be accessed at any tertiary institution which offers a social work qualification.
For those looking to go into different fields, the National Student Financial Aid Scheme (NSFAS) is a study loan available to South African learners who have been accepted on academic grounds to study on a tertiary level.
NSFAS can be accessed through many universities and Further Education and Training (FET) colleges across the country. According to NSFAS Communications and Development Officer Bonny Feldman, an amount of R 161.6-million has been allocated to Eastern Cape universities to provide funds for first time students this year.
Although registration fees are usually billed to the students, Feldman said that each university is advised to identify those students who are unable to pay their registration fees upfront but are likely to be the recipients of financial aid. “Up to 30% of the total allocation of NSFAS funds to a university can be claimed by the university to cover registration fees for those students unable to pay themselves,” she said.
To apply for financial assistance you need the following:
-A certified copy of your ID
-Proof of household income
-Copies of ID/birth certificates of other children in the household
-Letter of acceptance from the academic institution you studied at previously
For more information on other loans and bursaries you can visit the financial aid office of the institution of their choice.
