Are you running putting your studies on hold simply because you cannot afford to pay for it? Looking for ways to fund your studies can be one of the most stressful parts of university, but there are many options for students who are not financially able to fund their own studies.
Most banks across South Africa offer student loans. To qualify though, you need to earn a certain amount or have your parents sign as your surety. Student loans are not free and you’ll have to pay back the loan as well as the interest. Student loans are offered by all the major banks, as well as credit providers.
This option is ideal for short-term or part-time studies. Once the bank loan is approved, the money is allocated to you. It’s your responsibility to pay the fees and buy study materials. Seeking financial aid to support your studies from banks and other financial institutions means you will have to pay it back, typically within a few years after you graduate.
Most of the universities in South Africa offer financial aid to students who are unable to fund their own studies and/or have achieved excellent academic results. If you consider this option, it is important that you contact the university’s financial aid office to enquire about their financial aid requirements.
A bursary will give you a peace of mind, but requires that you maintain a certain standard of results in order to qualify. If you find a company bursary, you might have to work for them after completing your study programme. It is important to do your research on bursary options out there and review all the requirements thereof. There is no limit to the number of bursaries you can apply for, so it’s best to apply for as many as possible that align with your interests and would fulfil your needs.
Check out our bursary options here.
This form of financial aid is awarded to deserving students based on their achievements and merit criteria they have met. You can receive a scholarship if you exceed a company’s criteria of excellence. There is such a wide range of scholarships out there, that we can confidently say that there's a scholarship for everyone. Scholarships are not paid back like a bank loan.
Check out our scholarship options here.
We have just mentioned a few of the top options majority of students opt for, however there are so many ways to fund your studies in South Africa. Do not let lack of funding prevent you from pursuing your dreams.