Once you've navigated where you want to apply to study further, you will then need to work out everything else that goes with studying. Most importantly, how you're going to pay your study fees.
Here are options that you have to finance your study fees.
Scholarships
Scholarships look at your strong academic achievement, financial need and participation in extramural activities.
Scholarships are not repaid, all that you have to do is maintain high grades.
Bursaries
Just like scholarships, a bursary covers 100% of your fees and you don’t pay back the money. Bursaries such as the Department of Higher Education and Training (DHET) bursary, which is commonly known as NSFAS, had been introduced to cater to the poor and working class students at public universities, providing fully-subsidised funding for them.
There are a range of bursaries offered by companies and organisations as well as government bursaries with some going beyond just paying for your fees.
Work-Study Programme
Some institutions do have a programme that helps students in paying at least 60% of their tuition fees, whilst, they pocket the 40% remainder.
This is usually a 12-month contract, of which the student will be provided with a position to work either as a student lab assistant, library assistant, etc at the institution.
Self-Funding
The hospitality industry usually has part-time positions for weekends and night-shift for students to work as waiters, bartenders, etc.
Alternatively, students may also take a look at notice boards at their university of TVET College for possible employment opportunities, and websites like Rent-a-Student or Money for Jam always have opportunities for students to make extra money.
If you have your own business, you may use your profit to pay for your fees. No matter how much you might be getting, it will make a difference.
Study Loans
Some financial institutions do have student loans as a product that primarily covers the tuition fees, accommodation, books and related equipment that a student will need during their time of study. Another student loan option is Fundi.
A number of documents will be required from you, such as your latest academic results, proof of acceptance at a university or TVET College, if a parent or guardian will be paying for your fees, then you will need them to sign surety for the loan.
Crowdfunding
Crowdfunding refers to putting yourself out there and having people basically donate to pay for your fees. Feenix specialises in helping students do this.
Feenix is a platform for students that allows for fundraising for students to fund their studies. This is to help students from building up debt with student loans.
Should you not find the answers that you need in your research for funding options, then it is advisable that you also pay a visit to your institution’s financial aid office for more information on both internal and external funding options available.
