Parting the confusion over bursaries and scholarships
Pretty much every teenager graduating from high school has aspirations to study further, but often their financial situation makes this impossible. Here is a look at the options that students can take advantage of to study further if they don't have the money to pay for it.
One of the biggest investments one can make for themselves is in their education. For many, though passionate about furthering their studies, this investment may seem impossible due to lack of funds.
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Thankfully, there are ways to ward against your dreams being halted, such as through bursaries, scholarships, and other forms of funding. According to All Bursaries South Africa, a bursary is a sum of money that is awarded to enable someone to study at a university or college. A lot of organisations, government or corporate, are said to offer bursaries to study at university, and will cover the full costs of tuition fees. It’s also possible that these bursaries cover additional costs, such as textbooks, a laptop, meals, and even accommodation.
FundiConnect, described scholarships as financial rewards that are granted to students based on outstanding academic achievements, or because they have met all requirements set out by the scholarship sponsor. There are two main types of scholarships that you can apply for:
Full scholarship: A payment that covers all of your tuition and textbook fees. It could even provide a monthly stipend to cover your living expenses.
Partial scholarship: This is a smaller payment which must go towards your studies. The total scholarship amount is often stated along with the application requirements.
Bursaries and scholarships are said to be one of the best ways to finance ones studies, without having to spend a large amount of money, as it reduces the cost of postgraduate studies and debt liability.
FundiConnect says this about scholarships versus other funding options:
• Scholarships
Awarded to those with outstanding academic achievement or other sponsor requirements. It pays for: tuition, textbooks, living expenses, etc. There is no repayment, and it is competitive.
• Student Loan
Awarded based on financial surety and you choose how you spend it. There will be a repayments needed, but its not competitive.
• Bursaries
Awarded based on meeting sponsor requirements. ayments go towards: tuition, textbooks, and living expenses. Sometimes a form of repayment is required, such as working the same number of years the company paid for at the company in question. It is not competitive.
Also read: International bursary applications open for postgraduate art students
• Financial Aid
Awarded based on financial need. Payments go towards: tuition, textbooks, and living expenses. You will need to repay and it is competitive.
• Grants
Based on strict subject-related requirements, often only at postgraduate level. Payments go towards: tuition, specific research opportunities, and conventions/conferences. There is no repayment, however, it is competitive.
How to apply for bursaries in South Africa?
Each bursary will often have a different set of requirements to qualify. Often, this will depend on what the organisation/company is looking for in its bursar. Eligibility requirements, often found on application forms, are:
• You have to be a South African citizen, or South African permanent resident.
• You have a strong academic history. Some bursaries require good grades in certain subjects – eg maths, science, languages, etc.
• You have currently been studying, or intend to study, within a specific field of study, which is suitable for the bursary programme.
• You have currently been studying, or you have applied to study, at a recognized institution in South Africa.
• You have a proven financial need. Often proven by submitting proof of household income.
• Applicants must ensure they meet all of the eligibility requirements for the bursary to be considered.
The Application Process
The application process is usually straightforward and well-explained. Once you know which field of study it is you are looking for, you can begin completing the online bursary application forms.
• First, make sure you fulfill the bursary eligibility requirements,
• Second, ensure you have all the information and documentation required to complete the application form, and
• Third, use the bursary online application form, if available, or download a copy of the form to complete and submit.
Organisations from which to get a bursary/funds to further your studies:
National Student Financial Aid Scheme (NSFAS)
NFSAS provides funding for deserving students who cannot afford further education. Courses at public technical and vocational education and training (TVET) colleges are also funded by NFSAS.
Details: info@nsfas.org.za or 0860 067 327.
08:30 – 17:00 (Monday – Friday)
08:30 – 16:30 (Saturdays)
Ikusasa Student Financial Aid Programme
They fund the higher education costs of mainly students studying towards a career in occupations of high demand (OHDs), which have been identified as critical to South Africa’s economic development by the Human Resources Development Council (HRDC). These include actuaries, accountants, data scientists, engineers, IT professionals, medical doctors, and nurses.
Details: 010 880 0400 or WhatsApp 072 617 8072.
Student Loans
Student loans are provided by financial institutions to assist students to further their education. Conditions for this funding include: Students are required to pay back the loan amount plus interest, once they have graduated, and students would require someone, normally a parent or guardian, to stand surety for the loan amount.
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