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What should I know about my bursary?

There are a couple of things you should know before you apply for a bursary.

Every organisation that offers financial assistance in the form of a bursary has its own set of rules and requirements.

If you are looking for a way to fund your studies make sure you can answer the following before entering into a financial agreement.

Requirements

The first issue is whether or not you qualify for the bursary. Only qualifying candidates will be able to receive funding. You made need to provide information about your academic results, family life and study plans to prove that you are eligible.

Find out:
If you need to be a South African citizen
Which subjects or marks you will need to qualify
If your parents or guardians need to earn a certain amount per annum
If you need to be accepted at a university first

Application process

To submit your application successfully you need to do it according to the procedure set out by the organisation.

Find out:
If you need to apply online or in print
When the applications open and close
Which documents you need to apply

Inclusions

Some bursaries cover additional expenses such as text books and registration fees while others only cover the cost of your tuition.

Find out:
What the bursary covers
If the coverage is the same for each year of your course
If you will receive a set amount of money

Conditions

Some sponsors have strict conditions regarding the performance of the student over the academic course.

Find out:
If you need to earn a certain grade during your study period
If you need to work for the company after you have completed your studies
What the policy is for students who fail a subject or don't complete their studies

Repayment policy

Generally beneficiaries are not expected to pay back the money for the bursary. However if you are expected to repay part or all of the money it is best to know up front.

Find out:
If you must repay the full amount
When you need to start making repayments
How repayments must be made

By Cindy Payle