Bursaries for 2012
This page contains guidelines on applying for bursaries for 2012. It is important to take note of these guidelines before applying for any bursary
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Now you have passed your matric with good marks and are short of study funds, now what?
That’s the challenge most students face in our country when they finish matric. Hence you find most youth sitting at home either looking for jobs or just becoming a burden to their parents. The first mistake students make is to apply for a bursary after they’ve long closed. Please take note of the following guidelines when applying for study funds:
Let us first define the following terms:
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What is a bursary?
A bursary is a financial support awarded to a student based on a combination of academic achievements and financial need to further his/her studies at a higher learning institution. The duration of a bursary varies between a year or may be granted for the entire period of study. Continuation of the bursary depends on your academic achievement. Some large organisations, companies, governmental and non governmental organisations usually fund bursaries for study in a particular field.
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Bursary terms: The terms of these bursaries vary tremendously depending mostly on the company/organization offering a bursary. Contract bursaries require you to "pay back" the bursary by working at the company once you've completed your studies and often they offer a bursar work experience and a job immediately after graduation. Many mining and engineering companies, in particular, provide contract bursaries..
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Bursary Eligibility: To be eligible for any bursary you have to meet their election criteria which mostly are academic dependent and apply to all applicants. Most companies will not consider anything below 60% on the selected subjects which you need to pass, and some 50% it depends on the company/organization offering the bursary. Even though some will offer bursaries based on financial need they also consider your academic progress.
Other criteria which may apply for the bursary applicants are: Your citizenship and your acceptance into an appropriate study programme at a recognized higher education institution. Applicants also need to meet certain admission criteria of the institution and they must also meet the national election criteria for that bursary organization. Many South African companies offer bursaries to promising students..
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Bursaries cover: Some bursaries will sometimes cover all recipients’ essential expenses. Expenses covered include tuition, full accommodation including meals, books and learning materials, and a small allowance for monthly living expenses. Universities have different cost structures, so the total value of a bursary differs from institution to institution..
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What is a Scholarship?
A scholarship programme is a financial assistance awarded for outstanding academic achievement. This means that you must have high marks and an excellent study record. Usually there are no employment conditions attached. The sum of money that is granted differs for each scholarship. Some provide for books or travel, others will pay for tuition and books, whilst others cover all expenses, including pocket money. A scholarship does not normally bind a student to pay back the money since it’s normally awarded purely on academic excellence..
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What is a National financial aid?
The National Student Financial Aid Scheme (NSFAS), a statutory body funded by the Department of Education, provides study loans to academically able but financially needy students. If you are a South African citizen you may be eligible for a National Student Financial Aid Scheme (NSFAS) loan for study at one of the country's public higher education institutions.
Much of an NSFAS loan can be converted into a bursary, which does not then need to be repaid, depending on one's academic progress. A 100% pass rate would result in a 40% bursary rebate on an NSFAS loan.
The size of the initial NSFAS loan ranges from R2 000 to R30 000. You should apply at your university's financial aid office..
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What is a Student loan?
This is a study loan offered to students by South Africa's major banks, both to South Africans and to non-South Africans with valid study permits. Bank loans, unlike NSFAS loans, will also cover studies at a private institution.
When applying for a bank loan, you will have to show proof of registration at an educational institution. You'll also need somebody, such as a parent or guardian, to sign surety for you.
Although you will only need to start repaying your bank loan once you've completed your studies, you will need to keep up the interest payments throughout the term of the loan..
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Now that we’re clear what is the difference between the bursary and the scholarship let us discuss:-
Tips when applying for a bursary.
- Preparing for a bursary should start at school, strive for the best in your grade 11 and 12 marks so you can meet the bursary’s academic criteria. To be safe obtain an average of 65% and above in all your subjects.
- As the year begins gather all the company details that offer bursaries which cover your field of study (bursary officer’s contact details, application process, application schedules and bursary criteria), normally this will be covered on the company’s website.
- While some will actually advertise online or on some newspapers when their bursary programme is opened, it is best to take initiative and find out if there are any bursaries on offer. Browse the net and buy the relevant newspapers.
- Companies will usually explain the application process either on their ads or website take note of those as that will determine the way forward. Normally you’ll have these on the company’s website or they will post/email it to you after you’ve applied. This depends on the company’s way of doing things.
- Once you’ve gathered all the companies’ details and obtained the relevant information concerning the bursary application process check the selection criteria to ensure you are eligible for that bursary.
- Have all the information they might require: your personal and family information, details of your proposed study, parent’s employment details, and community involvement information, academic records, personal/academic achievements etc.
- Ensure you provide all supporting documents as requested nothing less nothing more, normally application forms will provide a space for your motivation, if they didn’t it wouldn’t hurt to add your own motivational letter.
- Post it to the correct address in time, also provide your correct contact details as requested.
- Keep a copy of your application form as they might ask you on what you wrote if they call you for an interview.
- Keep in mind companies receive thousands of bursary applications yearly thus it’s important not to expect any special treatment. So just remember you are the one looking for them not the other way around even if you have aced all your subjects you don’t automatically qualify so do your best in impressing them in your application forms.
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I have been accepted at the University but have no study funds, what should I do?
A problem most students face after matric, it’s not the end of the world. If you look at the options above NSFA may be the best one that you may go for at this moment. If you meet their criteria and awarded a loan all you need to do on your side is produce best results for your first year at your University. Not only will 40% of NSFAS loan be converted into a bursary but you will also stand a good chance of obtaining a bursary from any other company/organization. Most companies have a tendency of awarding bursaries to good performing students that have already completed their first or second year at the University rather than students fresh from matric. If you don’t get a bursary straight away go on with the NSFAS loan maintaining a good pass rate and keep a look out for company/organisations offering bursaries to University students.
The Bursary Register, available at most high schools and at your university's financial aid office, they will provide you with a full list of bursaries available in your particular field.
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Bursary Application Forms
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