Types of bursaries in South Africa
Sometimes, life in the university can feel very complex and stressful especially when it comes to paying for tuition, accommodation and other expenses.
It’s even worse if you come from a financially unstable background. But don’t worry too much, you can reduce some of your financial costs by applying for a bursary.
This blog post will give you all the information you need to select the perfect bursary for your situation.
What are bursaries?
Bursaries are financial grants awarded to students based on their academic performance, financial need, or specific criteria set by the sponsor.
Unlike loans, bursaries don’t require applicants to repay the money. This makes them a dream come true for many students.
Think of them as an investment in your future, a helping hand that allows you to pursue your academic goals without having to worry about being in debt.
Types of bursaries in South Africa
The thing about bursaries is that, they are very diverse. These are some of the various types of bursary opportunities available in South Africa:
1.Field-specific bursaries
These bursaries cater to specific fields, like engineering, medicine, or accounting. They’re often sponsored by companies who wish to train future talent in their industry.
2. Government bursaries
Through the National Student Financial Aid Scheme (NSFAS), the South African government offers bursaries for students in financial need. These bursaries cover tuition fees and living expenses.
3. University bursaries
Many universities offer bursaries to attract and keep top students. These bursaries can be merit-based or need-based, depending on the university’s policies.
4. Corporate bursaries
Private companies often offer bursaries to boost their image to the public.
These bursaries can be broad-based or targeted towards specific fields relevant to the company’s operations.
5. Non-profit bursaries
Various non-profit organizations offer bursaries to students from struggling backgrounds or those pursuing specific interests, like environmental conservation or social justice.
Which bursary is the best in South Africa?
It is not possible to pick one bursary as the best because there are so many different factors involved.
The “best” bursary depends on your individual needs and aspirations. You must consider these factors:
- Field of study: Choose a bursary aligned with your academic goals.
- Financial need: You have to apply for a bursary that covers all your expenses if that is what you need.
- Academic merit: Some bursaries require high academic performance, while others prioritize financial need.
- Bonding conditions: Some bursaries require you to work for the sponsor after graduation. You have to consider all that before applying.
How much do bursaries pay in South Africa?
The amount paid depends on the bursary and the sponsor.
Some bursaries cover only tuition fees, while others offer full financial support, including accommodation, meals, and transport.
Research very well to understand the coverages offered by each bursary.
If you understand the different types of bursaries and their requirements, you will be able to make better choices when it comes to selecting the right one.