How can I pay for my studies?

Tertiary studies can be expensive – that’s why it’s a good idea to start planning for it early. That means figuring out how much it will cost, and how you will pay for it. You can do this by going to the university’s or college campus or their website and checking their tuition and accommodation fees.

The next step is to figure out how you will pay for everything. There are some options out there:

1.       Bursaries: You can get a bursary from companies, government departments and even universities. Depending on the bursary, they might pay for your fees, accommodation and sometimes even books and meals. They usually want you to pay them back by working for them.

2.       Study loan: You can apply to get a study loan from the National Student Financial Aid Scheme (NSFAS), which is a loan from the South African Government. Visit their website for more information on how to apply. You would need to pay this back once you finish studying and get a job.

3.       Bank loan: These can be harder to get because the bank will want someone to guarantee that the loan will be paid back (this person is called the guarantor). They’ll have to pay back the loan if you can’t.

4.       Fundi loans: This organisation can pay for your fees, but you need to pay it back while you study. Click here for more information.

5.       Work part-time: Part time work can help you to pay your fees. This is the hardest option, but you won’t owe anyone when you finish.

Make sure to choose the option that will be best for you, and be prepared. For more on study tips check out the “Your Future” section on B-Wise. 

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