NSFAS bursary alternatives to fund education in South Africa

The National Student Financial Aid Scheme (NSFAS) plays a vital role in making higher education accessible to deserving South African students.

However, due to funding limitations and eligibility criteria, you might not qualify for NSFAS assistance.

This doesn’t have to end your educational aspirations though.

There are numerous bursary alternatives available to help with the financial load and empower you to pursue your academic goals.

What are the types of financial aid available in South Africa?

Besides NSFAS bursaries, several other financial aid options can help fund your studies:

  1. Merit-based Scholarships: Awarded based on academic excellence, these scholarships don’t require repayment. Examples include the Mandela Rhodes Scholarship and the Allan Gray Orbis Scholarship.
  2. Needs-based Bursaries: Similar to NSFAS, these bursaries prioritize students from disadvantaged backgrounds, often focusing on specific fields of study. Examples include the Funza Lushaka Bursary for education students and the Sasol Bursary for science and engineering students.
  3. Loan Schemes: Government and private institutions offer student loans with favorable interest rates and repayment terms. Remember, a loan needs to be repaid with interest.
  4. Employer-sponsored Bursaries: Some companies offer bursaries to students willing to work for them after graduation.

How can I find bursaries for my field of study?

Here are some resources to find bursaries aligned with your field of study:

  1. Government Websites:
    • The Department of Higher Education and Training (DHET) website lists various bursary opportunities.
    • The Companies and Intellectual Property Commission (CIPC) website allows searching for bursaries offered by registered companies.
  2. University and TVET College Financial Aid Offices: These offices maintain updated bursary listings relevant to their institutions’ programs.
  3. Industry-Specific Websites: Many professional bodies and industry organizations offer bursaries in their respective fields.
  4. Bursary Search Engines: Websites like Bursary Finder and Compathy aggregate bursary information from various sources.

What are the benefits of a scholarship versus a bursary?

The primary distinction lies in repayment. Scholarships typically don’t require repayment, making them a more attractive option financially.

Bursaries, while offering financial support, often require maintaining good academic standing and may have service conditions, like working in a specific industry after graduation.

Can I apply for multiple bursaries at the time?

It’s highly recommended to apply for multiple bursaries to increase your chances of securing funding.

However, ensure you meet the eligibility criteria for each bursary you apply for and manage your application deadlines effectively.

What are scholarships in South Africa?

Scholarships are similar to bursaries but are awarded solely based on academic merit.

They often cover the full cost of tuition and may even include additional benefits like living stipends and travel allowances.

Several universities and private organizations offer scholarships in South Africa.

Can I get a student loan in South African Banks?

Yes, several South African banks offer student loans.

These loans can be a valuable option for students who do not qualify for a bursary or scholarship.

However, unlike bursaries, student loans must be repaid with interest after completing your studies.

How much do bursaries usually cover?

The amount a bursary covers varies depending on the specific bursary program.

It can range from covering just tuition fees to providing a comprehensive stipend for all your educational expenses.

Be sure to carefully review the terms and conditions of each bursary you apply for.

Eligibility Requirements for Bursaries

While specific requirements vary, most bursaries share some common criteria. Here’s a general overview:

  1. You must be a South African citizen or permanent resident.
  2. Academic Performance: Bursaries often require a strong academic record, with minimum marks stipulated in your previous studies.
  3. Proof of financial need might be necessary, typically demonstrated through parental income documentation.
  4. Field of Study: Bursaries may be restricted to specific fields aligned with the donor’s interests.
  5. Some bursaries might require a commitment to community service after graduation.

Remember that eligibility criteria are dynamic and can change from year to year.

Always refer to the official bursary provider’s website for the latest requirements.

Bursaries for Specific Fields of Study

These are a few examples of bursaries for specific fields:

  1. Engineering & Science: Sasol Bursary, Eskom Bursary, Mandela Rhodes Foundation Scholarship
  2. Information Technology: SITA Bursary, MTN Bursary, National Electronic Media Institute of South Africa (NEMISA) Bursary
  3. Education: Funza Lushaka Bursary, Teacher Education Advanced Certificate (TEAC) Bursary, Education Trust Fund Bursary
  4. Business & Commerce: ABSA Scholarship Programme, Old Mutual Bursary, Liberty Learnership Programme