When looking to further your education there are different means of funding available to you. When choosing a type of funding, the following
information will assist in guiding a funding plan.
A scholarship is academic financial sponsorship awarded to an academically deserving students which consists of conditions and criteria
the candidate must meet in order to qualify for the funding. The sponsorship awarded covers at the least a portion (and in some cases the full cost of the student’s tuition).
If the payment made does not fully cover the fees the student or their parents have to make up the difference. The good thing about a scholarship is that the student does not
have to pay any of the money back. In most cases the beneficiary of the scholarship has to maintain a certain average in terms of their
marks and stick to conditions set by the sponsor or maybe even partake in some sporting activity.
For example an athletic scholarship may require that the student maintain a 60 % average and do very well in athletics.
Some organizations that offer Scholarships (This is not an exhaustive list of institutions offering scholarships)
A bursary is academic sponsorship that covers the full costs of study including study material, tuition, accommodation and sometimes an allowance
for living expenses. It is granted on the basis of financial need and/ or academic merit. A bursary is paid back in service to the
company or entity that sponsored the candidate. Usually the candidate will have to work for the sponsor for the same amount of years they sponsored them or
paid for their fees. Although a bursary covers your fees, if the student fails a module they will be expected to pay for it themselves.
Organizations that offer Bursaries
A Study Loan
A study loan refers to money borrowed to pay for academic tuition (in some instances this includes accommodation) that has to be paid back with interest.
Different loans charge interest differently, it is important to know how the loan you intend to take charges interest. Students should only acquire loans from registered financial institution.
Organizations that offer student loans (This is not an exhaustive list of institutions offering student loans)