/ 26 May 2017

Financing your studies

It may look daunting
It may look daunting

So, you have decided that you want to study further after high school, but you are uncertain about the costs involved with tertiary studies. Well, look no further, this section has everything you need to know! Some of the costs include:

Application fee: For the university to consider your application you need to provide all the necessary documentation, and you need to pay a non-refundable application fee with your paper or online registration. The costs vary from university to university. The University of Pretoria charges R300, while UKZN charges R200, for example. Check with the university you are applying to.

Acceptance of offer fee: Before you can accept an offer at a university, there may be a fee that you are expected to pay to secure your place. This fee is generally deducted from your fees for the year, and if you are on a scholarship you do not have to pay this deposit.

Fees: This is the amount of money that you will be expected to pay for the year for your course. Ensure you read your fee structure booklet carefully, so that you know how much your course costs.

Accommodation: This refers to residence fees, flat lodging and even electricity and lights. Not all bursaries cover accommodation, so be sure to clarify this. If you opt to stay at home during your studies you will still have to factor in transportation costs, which will vary depending on how close you are to your institution’s campus.

Textbooks/course packs: Your scholarship/bursary might not cover textbooks; you will be expected to buy these yourself. You can get them at a second-hand rate, and also borrow them from the library (the lending times for these are super short — be warned!)

Equipment: Depending on the course that you are studying you will be expected to obtain equipment, e.g. gown and stethoscope for medical students, a laptop for all students.

Food: The price of living as a tertiary student is quite high; you might expect to spend over R1 000 per month on groceries should you live in a flat that does not provide catering.

These are just some of the funding sources for you to consider if you are looking to study at a university, technikon or TVET college:

University Entrance Scholarships: A number of universities offer scholarships to students on the basis of their NSC APS score. For example, if you get an APS score of 43 or 44, you will receive a scholarship worth R10 000 from Wits University.

NSFAS: The National Student Financial Aid Scheme aims to provide financial assistance to academically gifted but financially needy students. The scheme works on the basis of a bursary and a loan that must be repaid once the student has completed her studies, and it caters for students at universities, technikons and TVET colleges. Students should apply directly at the website www.nsfas.org.za

Employee Dependent Scholarships: A number of companies offer scholarships and/or bursaries to the children of their employees. Ask your parent/guardian if their companies have any form of funding that you can apply for to cover your studies.

For more info on bursaries, scholarships and other forms of funding go here:

www.bursaries2017.co.za studentspaza.co.za

www.careerwise.co.za www.youthvillage.co.za

www.studentvillage.co.za www.studentbrands.co.za

www.puffandpass.co.za

For more info on funding opportunities, please consult:

->Career centre offices at your higher education institution of choice

->Financial offices at your higher education institution of choice

->The bursary register is a directory of scholarships and bursaries available in South Africa. Ask your university career centre officer about it. 

How to unlock your authentic career

Deciding on a career is possibly the most important and daunting decision you will ever have to make, especially if you are not sure what you want to dedicate your life to doing. Some people know at a very early age, while others take a bit longer. It is important to use this time to figure out what you really like, what you really want out of life and which career will help you get there. Here’s a six-step question guide to help you get closer to unlocking your most authentic and fulfilling career:

1) Introspect and ask yourself: “What am I good at?”

What are you interested in? What is your personality type? Do some research on yourself. You can also do some career assessments (this is a service that is offered at career centres at universities) that provide you with a better sense of the possibilities that exist for you. 

2) Do some research on the jobs on your list

Find out everything there is to find out about these jobs, the subjects you need to take in high school, the number of years required to study to achieve the qualification, the importance of these jobs in society, the cost of the course, everything!

3) Speak to as many people as you can

Try to speak to as many people already in your career as you can, so that you can develop a better sense of what is expected. If you want to be a civil engineer, speak to the people that are working on a construction site in your neighbourhood; see if you can arrange job shadowing opportunities in that industry.

4) List all the possible jobs you can see yourself doing

Write down all the jobs that you could possibly see yourself doing; feel free to add on even those that you know nothing about. The results from the career assessment (see step one) should also give you a few ideas of which careers you could pursue.

5) Narrow down your list

Depending on the information that you find in step three, narrow down your list to the job that you still see yourself doing. Maybe you did not study the subjects required, or the idea of studying for too long at university does not appeal to you. Cut down your list.

6) Pick your career

After all your research, you should have a better idea of what you want and what it will take to get there. Now you have all the information you need to start working towards your career goal!