9 WAYS TO FUND YOUR FUTURE OPTIONS ABOUND ON HOW TO FUND YOUR STUDIES
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ife is about choices and when it comes to finding the funds for your studies, there are choices aplenty. And that’s great news because covering tuition fees and other essential expenses such as travelling and food (and let’s not forget making all those photocopies of all that interesting learning material) is probably one of the first hurdles you’ll come up against when planning your tertiary education. The options listed here are by no means the only ones. As with all things worthwhile, to get the full picture and cover all your bases will take a bit of work and good old research. If, however, you find the path to future success right here, well then, all the better. With the money issue off your back, you can hunker down and focus on your studies.
OPTION #1: NSFAS FUNDING
NSFAS is a bursary scheme funded by the Department of Higher Education and Training for those who do not have the financial means to fund their studies and cannot access bank funding, study loans or bursaries. Take note: The new physical address for the NSFAS Student Centre is 4 Christiaan Barnard Street, Cape Town City Centre. Here’s how it works: If you come from a family with an income of R350 000 or less, you qualify for a government bursary offered via the National Student Financial Aid Scheme (NSFAS).
What does the bursary cover? For University • Accommodation as per the actual costs charged by the university (costs for private accommodation must not exceed costs for university residence) • Transport (up to 40km from institution) R7 500 per annum • Living allowance R15 000 per annum • Book allowances R5 200 per annum • Incidental/personal care allowance R2900 per annum for students in catered residences. For TVET • Accommodation in an urban area R24 000 per annum • Accommodation in a peri-urban area R18 900 per annum
• Accommodation in a rural area R15 750 per annum • Transport (up to 40km from institution) R7 350 per annum • Transport R7 000 per annum • Incidental/personal care allowance R2 900 per annum. In addition to your family income being below R350 000, you qualify if: • You are a SASSA grant recipient • You have a disability and your family’s combined household income is not more than R600 000 per annum • You started studying before 2018 and your family’s household income is not more than R122 000 per annum.
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