8 November 2024
As the year approaches its end, UASA reminds prospective students of the significance of being proactive in their academic journey, with funding being the most important challenge. Funding for university or college can be challenging, especially during early January when the pressure from all students across the country draws in. Recognising this, UASA emphasises the importance of beginning the search for funding as early as possible.
This practical approach allows students to explore a variety of funding sources, both public and private and to maximise their chances of securing the financial resources they need to succeed. Among the many options available, UASA reminds its members and their dependents not to overlook the UASA Study Grant Scheme, which provides substantial support to UASA members. Although specific eligibility requirements must be met, the UASA study grant is a valuable resource for qualifying students.
Subject to the availability of funds, thirty-two (32) grants are paid out per annum and awarded to qualifying students. UASA members are encouraged to visit the union’s website to apply for the upcoming academic year from January 2025.
National Student Financial Aid Scheme (NSFAS)
NSFAS is the country’s largest provider of financial aid for students in need. Covering both tuition and living expenses, NSFAS funding is available to South African citizens who meet income and study field eligibility requirements.
Bursaries
Each year, companies within specific sectors and industries, especially the Science, Technology, Engineering, and Mathematics (STEM), award bursaries to academically deserving students studying towards degrees in their respective fields. These bursaries are highly competitive but can cover a substantial portion of education costs. Government departments and universities also provide bursaries. Students can find out more by visiting the official websites of companies, government departments, and universities. Newspapers or government circulars also offer such information.
Student loans
Student loans come with terms and conditions just like any other loan. However, a student loan can be repaid on better terms compared to ordinary loans. In South Africa, Fundi, Eduloan and several banks are well-known entities that offer student loans.
Tips for navigating the funding process:
Organise on time: Compile a list of all funding sources, their application deadlines and required documents. Apply for as many relevant grants as possible. This increases your chances of receiving multiple awards.
Polish your application: A strong personal statement highlighting your achievements and passion for your field of study can set you apart from other applicants.
Network and seek guidance: Contact financial aid advisors, union representatives or other knowledgeable individuals who can offer tips on crafting a compelling application and information on funding programmes that they know of.
Ref: www.uasa.org.za