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If you’re smart and want to get ahead in life, then tertiary education is essential. Today’s market place is highly competitive, especially in South Africa, and especially since the recession of 2009. A university or college degree is expensive. You can expect to pay between R10 000 and R20 000 for each year of undergraduate study in a South African university. Specialised degrees such as Medicine or Engineering can cost much more.
South Africa also has many private colleges which may be cheaper than a university degree, so view all your options before applying.
University Bursaries or Grants
If you’ve got your heart set on getting a university degree, then approach your campus financial aid office for assistance and advice. Most universities offer bursaries or grants to students that have excelled at school or on the sports field. Check to see whether you are eligible for any of these.
View Career Portal’s list of South African Universities.
National Aid
If you are a South African citizen, you may be eligible for the National Student Financial Aid Scheme which is funded by the Department of Education. This aid comes in the form of a bursary which does not necessarily need to be repaid, depending on your specific case. The loans range from R2000 to R30 000.
External Bursaries
Many South African companies offer bursaries to promising students. The terms vary tremendously and you’ll need to pay it back by working at the company once you've completed your degree. This is a bonus as it ensures you get a job and work experience immediately after your graduation. Many mining and engineering companies, in particular, provide contract bursaries so consult their websites.
The Bursary Register, available at most high schools and at your university's financial aid office, will provide you with a full list of bursaries available in your particular field.
Student loans
Student loans can be obtained by most South African banks. Loans will cover university study and studies at private institutions. When applying you’ll have to show proof of registration at the educational institution, and a parent or guardian to sign surety for you. The loan is due to be repaid at the end of your studies, but interest payments need to be made throughout the term of the loan.
Self Financing
Paying your own way requires dedication and hard work. You’ll have to work part-time while you’re studying, or study part-time, while you’re working. The up-side is you gain work experience immediately, but you’ll be pressed for time and will have to be very disciplined.
See learnerships, apprenticeships and internships for more options.
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