This then begs the question as to whether there are any available funding alternative options for this cohort of students. Fortunately, there are funding options available for professional development and short courses in the country.
Here are some avenues that individuals can explore to seek financial assistance for their professional development:
Fundi
Fundi offers a short course loan for students who are looking to advance their skills by enrolling for short courses but need financial assistance to complete them. Students can contact Fundi directly by providing personal details on their official website for related queries.
Sector Education and Training Authorities (SETAs)
SETAs are bodies established under the South African Skills Development Act to facilitate skills development and training in specific economic sectors. Each SETA is responsible for managing and disbursing funds for skills development initiatives within its sector.
Individuals can explore SETA funding opportunities for short courses and professional development programs related to their industry.
Nedbank
Nedbank has also stated that it is standard practice to provide student loans for short course programmes that are offered by institutions that are registered with the South African Qualifications Authority (SAQA) and are directed towards NQF level 5 or higher.
However, it is worth noting that Nedbank’s student loans are specifically intended for prospective students who qualify to attend a full-time or part-time programme at an accredited institution.
Government Initiatives
The South African government offers various funding programs to support skills development and education. For instance, the Department of Higher Education and Training (DHET) provides funding through its Skills Development Levy (SDL) grants.
These grants are aimed at assisting employers in developing the skills of their employees and can be used to fund short courses and professional development programs.
Financial Institutions
In some cases, you may consider taking out a personal loan from financial institutions to fund your professional development or short courses. However, it is important to carefully assess the terms and conditions of the loan, including interest rates and repayment plans, to ensure it is a viable option.
It is advisable to thoroughly research and explore these funding options, as well as any other possibilities specific to your preferred field or circumstances.
Additionally, contacting the relevant institutions or organisations directly and seeking guidance from educational institutions or career guidance centres can provide further information on available funding opportunities for professional development and short courses.
