Funding Your Career
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.
Scholarship
A scholarship is academic financial sponsorship awarded to an academically deserving student which consists of conditions and criteria
the candidate must meet. The sponsorship awarded covers at the least a portion 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 rest. 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. For example an athletic scholarship may require that you maintain a 60 % average and do
very well in athletics
Organizations that offer Scholarships
Bursary
A Bursary is an academic sponsorship that covers the full costs of study including study material, tuition, accommodation and sometimes pocket money
for living expenses. It is granted on the basis of financial need and/ or good academic results. A bursary is paid back in service to the
company or entity that sponsored the candidate, they 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 there is a module the student fails they will be expected to pay for it themselves.
Organizations that offer Bursaries
Study Loan
A study loan refers to money borrowed to pay for academic tuition (in some instances accommodation too) 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. A loan should only be
given out by a registered financial institution.
Organizations that offer student loans