Government funding agency NSFAS has helped thousands of students pursue their academic goals this year however not everyone was lucky enough to qualify.
Do you need financial assistance to study further?
If you were unable to secure funding for the 2022 academic year don’t despair, there are still options available.If you were unable to secure funding for the 2022 academic year don’t despair, there are still options available.
Why not consider these funding channels before you give up on your dreams?
4 Ways To Finance Your Studies In South Africa
Bursaries
A Bursary is a financial award granted to a student on the basis of the student’s financial neediness or academic performance.
Bursaries and other financial aid initiatives are offered by government departments, companies and private sponsors to provide previously disadvantaged young people with the opportunity to study at a higher education facility.
Each bursary has its own unique set of requirements which means beneficiaries are selected according to the criteria established by the sponsor.
Visit our Bursaries Portal to get the latest opportunities here
Feenix
Feenix is a crowdfunding initiative created by Standard Bank to help young people access funding for their studies.
The project is aimed at providing sponsorship to underprivileged youth through anonymous donors.
Anyone can obtain funding through Feenix because there are no academic requirements. Only registered students can participate.
Find out more here
Fundi
Previously known as Eduloan, Fundi is a financial solutions company which specialises in student finance.
Students can receive monetary support through “educational funding, cashless transaction solutions, bursary fund administrations and bursary support”.
Fundi covers students in every sphere of learning, from short courses to MBA and postgraduate studies.
The company also makes provision for every area of student life and is able to cover tuition, registration fees, outstanding balances, registration fees, laptops, textbooks, study tools, accommodation and more.
Find out how it works here
Study loans
This might not be your first choice but study loans can provide a short term solution to your financial problems.
All of South Africa’s major banks offer student loans, both to South Africans and to non-South Africans with valid study permits. Unlike NSFAS funding, bank loans will also cover studies at a private institution.
When applying for a bank loan a parent or guardian will be required to sign surety for the student.
Every bank has different repayment conditions so find out when you will need to pay back your loan and what the interest rate will be before you sign on the dotted line.
Apply for a study loan at one of the following accredited financial institutions:
Bank
Capitec
FNB
Nedbank
Standard Bank
